Blackberry to repurchase 12 million shares to offset dilution from employee stock
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The company said it has about 529.5 million shares of common stock outstanding or about 464.7 million shares in the hands of public investors. The buyback represents about 2.5 percent of the publicly held shares.
The buyback program will run from Monday through June 28, 2016.
Shares of the Canadian mobile communications company rose 2 cents to $8.85 in premarket trading. Over the past year, the stock has traded between $8.59 and $12.63.
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(image credits: n4bb.com)
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