Global Payments Inc. GPN said in a Wednesday morning filing that it has entered into an accelerated share-repurchase program aimed at buying back $500 million of its common stock. The company expects that about 2 million shares of common stock repurchased through the program will be received on Feb. 12. Final settlement for the accelerated share-repurchase program is expected to take place no later than March 31. Global Payments disclosed in its Monday earnings release that it was planning to launch this program "in the coming days" after the company's board of directors approved a general increase to the company's buyback authorization, which lifted the total amount available up to $1.5 billion. Global Payments shares have gained 5.1% over the past three months as the S&P 500 SPX has risen 10.3%.
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February 10, 2021 at 09:30PM
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Global Payments enters into $500 million accelerated share-repurchase program - MarketWatch
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