Automatic Data Authorized Purchase of Up to $5 Billion in Common Stock
November 12 2019 - 6:11PM
Dow Jones News
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)
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