Tech Data Board Approves $100 Mln Increase To Share Buyback Program

(RTTNews) - While reporting its fourth-quarter financial results on Thursday, Tech Data Corp. (TECD) said its board of directors has approved a $100 million increase to its existing share repurchase program announced on October 2, 2018, resulting in a total share repurchase authorization of $300 million.

Through January 31, 2019, the company repurchased approximately 1.429 million shares of its common stock at a cost of $107 million.

Tech Data's share repurchases will be made on the open market, through block trades, through 10b5-1 plans or otherwise. The company intends to hold the repurchased shares in treasury for general corporate purposes.