Red Hat Announces $1 Billion Stock Repurchase Program
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Red Hat, Inc. (NYSE: RHT), the world's leading provider of open source solutions, today announced that its Board of Directors has authorized the repurchase of up to $1 billion of the Company’s common stock from time to time on the open market or in privately negotiated transactions. The new program is to replace the previous $1 billion repurchase program that will expire on June 30, 2018. From its commencement on July 1, 2016 through June 20, 2018, the Company repurchased approximately 8.2 million shares of its common stock for $751 million under the previous program.
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