TeleTech Holdings (TTEC) Adds $25M to Buyback Plan
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TeleTech Holdings, Inc. (NASDAQ: TTEC) announced that its Board of Directors has approved an additional authorization of $25 million for future share repurchases.
“This increased share repurchase authorization demonstrates TeleTech's ongoing commitment to driving higher shareholder returns,” said Kenneth Tuchman, TeleTech’s chairman and chief executive officer. “Our strong balance sheet and solid cash flows provide us with the ability to invest in both organic growth and complementary acquisitions while continuing to return cash to our shareholders via our buyback program.”
During the first nine months of 2012, TeleTech repurchased 3.5 million shares of common stock for a total of approximately $55 million. As of September 30, 2012, there was a remaining authorization of $26.5 million under a previously approved share repurchase program.
“This increased share repurchase authorization demonstrates TeleTech's ongoing commitment to driving higher shareholder returns,” said Kenneth Tuchman, TeleTech’s chairman and chief executive officer. “Our strong balance sheet and solid cash flows provide us with the ability to invest in both organic growth and complementary acquisitions while continuing to return cash to our shareholders via our buyback program.”
During the first nine months of 2012, TeleTech repurchased 3.5 million shares of common stock for a total of approximately $55 million. As of September 30, 2012, there was a remaining authorization of $26.5 million under a previously approved share repurchase program.
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