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DigitalGlobe Increases Share Repurchase Authorization to $205 Million

 

DigitalGlobe, Inc. announced that its Board of Directors has authorized an additional $130 million share repurchase through the end of 2015, raising the total authorization to $205 million from $75 million. The company may repurchase shares in the open market or in privately negotiated transactions, including through accelerated share repurchase transactions or under a Rule 10b5-1 plan.

In the current quarter to date, DigitalGlobe has repurchased 2.04 million shares of its stock for $54.4 million at an average price of $26.63. Cumulatively through Dec. 17, 2014 the company has repurchased 2.54 million shares of its stock for $69.4 million at an average price of $27.34.

“We are pleased to announce this increase to our share repurchase plan,” said Jeffrey R. Tarr, CEO of DigitalGlobe. “The additional authority will allow us to enhance returns while retaining the flexibility to execute our growth strategy through both organic investment and acquisitions, with a focus on creating value for shareowners over time.”