Tech Data announces USD 200m increase in buyback program

Tech Data (Nasdaq: TECD) has announced that its board of directors has authorized an additional USD 200 million in share repurchases of the company´s common stock, the company said.

This authorization will supplement the USD 75 million that remained authorized and available, as of July 31, 2019, under the company´s previous share repurchase program.

The company´s share repurchases will be made on the open market, through block trades, through 10b5-1 plans or otherwise. The amount of shares purchased and the timing of the purchases will be based on working capital requirements, general business conditions and other factors, including alternative investment opportunities. The company intends to hold the repurchased shares in treasury for general corporate purposes.

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