CVS Announces Stock Buyback; Company's Strong Financial Outlook and Positive Cash Flow are Reasons for Plan.Business Editors WOONSOCKET, R.I.--(BUSINESS WIRE)--March 6, 2000 CVS (1) (Concurrent Versions System) A version control system for Unix that was initially developed as a series of shell scripts in the mid-1980s. CVS maintains the changes between one source code version and another and stores all the changes in one file. Corporation (NYSE NYSE See: New York Stock Exchange :CVS) announced today that its Board of Directors has authorized the repurchase of up to $1 billion of its common stock. Shares will be repurchased on the open market from time to time and the program can be discontinued at any time. Repurchased shares will be used to fund employee stock-based plans and the Company's treasury. The buyback program will be funded from general operating revenues. "Our stock repurchase plan stock repurchase plan 1. See buyback. 2. See self-tender. represents a significant opportunity for us to invest in the future of our company," said Tom Ryan
Tom Ryan (born August 3 1986), who plays under the pseudonym Ogre 2, is a professional gamer from Pickerington, Ohio, USA. , Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CVS. "We have always looked for investments that will make us a stronger business and increase shareholder value, while continuing to generate significant free cash flow. By repurchasing our stock, we are continuing our commitment to investing wisely in our future, while maximizing the opportunity presented to us by the extraordinary value of our stock price," said Ryan. |
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