Automatic Data Authorized Purchase of Up to $5 Billion in Common Stock

Date : 11/12/2019 @ 11:11PM
Source : Dow Jones News
Stock : Automatic Data Processing Inc (ADP)
Quote : 169.66  1.3 (0.77%) @ 3:07PM

Automatic Data Authorized Purchase of Up to $5 Billion in Common Stock

Automatic Data Processing (NASDAQ:ADP)
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   By Maria Armental 
 

Automatic Data Processing Inc.'s board approved spending up to $5 billion to buy back the company's stock, the company said Tuesday.

The $5 billion stock repurchase approval replaces a 2015 authorization to buy up to 25 million shares of common stock. As of Sept. 30, it had about 8.1 million shares left under that authorization, according to a securities filing.

ADP had approximately 433 million common shares outstanding as of Oct. 30.

 

Write to Maria Armental at maria.armental@wsj.com

 

(END) Dow Jones Newswires

November 12, 2019 17:56 ET (22:56 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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