Acxiom (NASDAQ:ACXM), the data foundation for the world’s best marketers, today announced that its Board of Directors has voted to increase the share repurchase authorization by $100 million to $500 and extend the duration of the program through Dec. 31, 2019.
“Acxiom has a long track record of returning value to shareholders,” Acxiom Chief Financial Officer Warren Jenson said. “We are pleased to expand our share repurchase program, as it reflects our continued confidence in the strength of our business and growth outlook.”
Since its inception of the share repurchase program in August 2011, Acxiom has repurchased 20.4 million shares for approximately $380 million, including two million shares for approximately $55 million since Dec. 31, 2017.
The company now has approximately $120 million remaining capacity for future purchases of common stock under the authorization.
Shares will be repurchased in the open market at times and amounts considered appropriate by the company based on factors including price and market conditions.
Additionally, purchases may be made under Rule 10b5-1 of the Securities Exchange Act of 1934.
The repurchase program may be suspended, discontinued or resumed at any time.
Acxiom provides the data foundation for the world’s best marketers.
We enable people-based marketing everywhere through a simple, open approach to connecting systems and data that drives seamless customer experiences and higher ROI.
A leader in identity and ethical data use for more than 48 years, Acxiom helps thousands of clients and partners around the globe work together to create a world where all marketing is relevant.
Acxiom is a registered trademark of Acxiom Corporation.
For more information, visit Acxiom.com.