Navient announces new $500 million share repurchase authority
September 13 2018 - 7:00AM
Navient (Nasdaq:NAVI), a leading asset management and business
processing services company, announced today that its Board of
Directors approved a new share repurchase program for up to $500
million of the company’s outstanding common stock.
The share repurchase authorization, which is effective
immediately, is in addition to the approximately $80 million unused
authorization approved by the Board in December 2016.
The authorizations permit the company to repurchase shares from
time to time through a combination of open market repurchases,
privately negotiated transactions, accelerated share repurchase
transactions or other similar transactions. The programs do not
have an expiration date.
About Navient Navient (Nasdaq: NAVI) is a
leading provider of asset management and business processing
solutions for education, healthcare and government clients at the
federal, state and local levels. The company helps its clients and
millions of Americans achieve financial success through services
and support. Headquartered in Wilmington, Delaware, Navient also
employs team members in western New York, northeastern
Pennsylvania, Indiana, Tennessee, Texas, Virginia, Wisconsin,
California and other locations. Learn more at navient.com.
Contact:
Media: Paul Hartwick, 302-283-4026,
paul.hartwick@navient.com
Investors: Joe Fisher, 302-283-4075, joe.fisher@navient.com
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