FONT-SIZE Plus   Neg

Avista Board OKs 4 Mln Share Repurchase Program

Avista Corp. (AVA) said Friday that its board of directors has approved the repurchase of up to 4 million shares of the company's outstanding common stock, conditioned upon the consummation of the planned sale of Ecova, Inc., which was announced on May 29.

Repurchases of common stock will commence on the later of the date of the closing of the Ecova sale or July 7, and will not continue past December 31.

Repurchases of shares will be funded with the expected net proceeds from the planned sale of Ecova and other available cash on hand.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Reynolds American Inc. (RAI) on Friday confirmed that British American Tobacco plc (BATS.L, BTI) has offered to buy the remaining 57.8 percent stake that it does not own in the US tobacco company for $47 billion. Reynolds said its board of directors will evaluate the offer, and respond accordingly to BAT, which currently owns 42.2 percent stake in Reynolds. The proposal represents an enterprise va Fast food giant McDonald's Corp. on Friday reported a 3 percent decline in profit for the third quarter from last year, reflecting one-time charges and lower sales. However, both revenue and earnings per share beat analysts' expectations. Shares of the company are gaining more than 3 percent in pre-market activity. General Electric Company (GE) reported that its third-quarter Industrial operating plus Verticals earnings, a non-GAAP measure, decreased 2% year-over-year to $2.87 billion. Industrial operating plus Verticals earnings per share was $0.32 compared to $0.29 prior year. On average, 15 analysts polled by...
comments powered by Disqus
Follow RTT