Prudential to Buy Back $1 Billion Worth of Stock

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With the deadline fast approaching on a $1 billion share repurchase program it had authorized a year ago, global financial services specialist Prudential Financial (NYSE: PRU  ) announced yesterday that its board of directors had authorized a new $1 billion buyback plan.

Over the last 12 months, Prudential has only repurchased about $150 million worth of its stock through March 31, but it had set a deadline with the last program of June 30 so it authorized the new program to run between July 1, 2013 and June 30, 2014.

The repurchases may be made on the open market, through derivative, accelerated repurchases, and other negotiated transactions, as well as through Rule 10b5-1c plans.

Headquartered in Newark, N.J., Prudential Financial has $1.06 trillion of assets under management.

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Rich Duprey

Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time.

Having made the streets safe for Truth, Justice and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. So follow me on Facebook and Twitter for the most important industry news in retail and consumer products and other great stories.


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11/25/2015 4:01 PM
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