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Scholastic to buy back $20M shares

By Associated Press
May 28, 2008 | Comments (0)

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Children's publishing and education company Scholastic Corp. on Wednesday said it will repurchase up to $20 million in stock.

The program will be funded by available cash. The company recently completed a $20 million share repurchase program begun in December 2007.

The company had about 36.6 million shares outstanding as of March 31, according to an April 9 filing with the Securities and Exchange Commission.

Shares fell 51 cents to $29.30 during afternoon trading.

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