Monday, Blackbaud, Inc. (BLKB) announced its plan to buy back 7-10 percent of common stock by the end of 2024, as part of its previously announced $500 million share repurchase authorization.
In line with the above-stated plan, the Company has entered into an Accelerated Share Repurchase or ASR agreement with Bank of America, N.A., to buy back $200 million of the Company's common stock.
Blackbaud has already repurchased approximately $77 million of common stock since December 2023, excluding the ASR announced today.
The funding for the ASR and other repurchases under the $500 million authorization will come from cash reserves, operating cash flow, and, if necessary, borrowings from the existing credit facility.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.