Edition:
United States

Cognizant Launches $300 Million Accelerated Share Repurchase


Wednesday, 14 Mar 2018 06:00am EDT 

March 14 (Reuters) - Cognizant Technology Solutions Corp ::COGNIZANT LAUNCHES $300 MILLION ACCELERATED SHARE REPURCHASE.COGNIZANT LAUNCHES $300 MILLION ACCELERATED SHARE REPURCHASE.COGNIZANT TECHNOLOGY- ‍ACCELERATED SHARE REPURCHASE AGREEMENT WITH SOCIETE GENERALE TO REPURCHASE AGGREGATE OF $300 MILLION OF CO'S CLASS A COMMON STOCK​.WILL FUND ASR PROGRAM ON MARCH 14, 2018 FROM CASH ON HAND AND ITS EXISTING CREDIT FACILITY.ASR AGREEMENT IS A CONTINUATION OF ITS PREVIOUSLY ANNOUNCED $3.4 BILLION CAPITAL RETURN PLAN.‍UNDER TERMS, ABOUT 3.04 MILLION OF SHARES TO BE REPURCHASED WILL BE RECEIVED BY COGNIZANT ON MARCH 14, 2018​.