Lexmark Board Authorizes Additional $200 Million Repurchase of Shares
Press release from the issuing company
LEXINGTON, Ky.--Feb. 21, 2002--Lexmark International, Inc. today announced that its board of directors has authorized the repurchase of an additional $200 million of its Class A Common stock. The repurchase authority allows the company to selectively repurchase its stock from time to time in the open market or in privately negotiated transactions depending upon market price and other factors. The repurchase authorization provides management with the flexibility to make purchases at its discretion.
This repurchase authorization raises the aggregate repurchase authorization to $1.2 billion from the $1 billion previously granted by the board. The company has used $956 million of the prior authorization to repurchase approximately 30 million shares.
The repurchased shares will be held in treasury for future use.
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