II-VI Inc. (IIVI: Quote) Thursday said it will buy back $25 million shares. Shares purchased by the company will be retained as treasury stock and will be available for general corporate purposes.
The company expects the repurchase of shares to at least partially offset the dilutive effect of the issuance of shares from the company's omnibus incentive plan. The company will finance the repurchases from cash-on-hand and amounts available under its existing credit facility.
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by RTT Staff Writer
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