SYNNEX Corporation Buyback
OLI recorded this information on 6/23/2014
SYNNEX Corporation (NYSE:SNX) today announced that its Board of Directors approved an anti-dilution share repurchase program under which it will begin purchasing up to $100 million of its Common Stock over a period of up to three years for the purpose of mitigating or reducing the dilution resulting from the various employee stock incentive and employee stock purchase programs. Any stock repurchases may be made through open market and privately negotiated transactions, at times and in such amounts as management deems appropriate, including pursuant to one or more Rule 10b5-1 trading plans adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
Synnex provides a range of distribution, systems design and integration solutions for the technology industry and has operations in North and South America, Asia-Pacific, Europe and Africa. Co.'s segments are: Technology Solutions, which distributes peripherals, information technology systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics and other products; and Concentrix, which provides a portfolio of solutions and business services focused on customer engagement, process optimization, technology innovation, front and back-office automation and business transformation to clients.
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Strong Buy (3.71 out of 4)