Navient Approves New Share Repurchase Program

(RTTNews) - Navient (NAVI) announced that its Board of Directors approved a new share repurchase program for up to $1.0 billion of the company's outstanding common stock.

Effective Jan. 1, 2015, the share repurchase authorization permits the company to repurchase shares from time to time through a combination of open market repurchases, privately negotiated transactions, or accelerated share repurchase transactions, Navient stated.

The company said that the program does not have an expiration date. The previous authorization announced by the company on May 22, 2014, was completed on Nov. 26, 2014.