by Luke Jones
Posted 2/6/2013 09:27 am
Updated 3 months ago
Acxiom Corp. of Little Rock today announced it was increasing the size of its authorized repurchase plan from $150 million to $200 million.
According to a news release, since August 2011 the company has repurchased 9.9 million shares for about $131 million, resulting in the repurchase of about 12 percent of its outstanding shares.
Acxiom previously increased the program from $50 million to $150 million in May 2012.
"We remain optimistic about the outlook for our ongoing investment strategy," Acxiom CEO Scott Howe said in the release. "While we are significantly investing in our future, we are also pleased in our ability to maintain a strong financial profile allowing us to continue to return capital to our shareholders."
The release said Acxiom is authorized to repurchase shares from time to time over the next 12 months in open market or privately negotiated transactions depending on prevailing market conditions and other factors.