Navient announces new $600 million share repurchase authority
December 08 2016 - 4:15PM
Navient (Nasdaq:NAVI), the nation’s leading loan management,
servicing and asset recovery company, announced today that its
Board of Directors approved a new share repurchase program for up
to $600 million of the company’s outstanding common stock.
Effective Jan. 1, 2017, the share repurchase authorization permits
the company to repurchase shares from time to time through a
combination of open market repurchases, privately negotiated
transactions, or accelerated share repurchase transactions. The
program does not have an expiration date.
During 2016, the company acquired 59.6 million shares of common
stock for $755 million, completing its previously announced share
repurchase authorization program.
About NavientAs the nation's leading loan
management, servicing and asset recovery company, Navient
(Nasdaq:NAVI) helps customers navigate the path to financial
success. Servicing more than $300 billion in student loans, the
company supports the educational and economic achievements of more
than 12 million Americans. A growing number of public and private
sector clients rely on Navient for proven solutions to meet their
financial goals. Learn more at navient.com.
Contact:
Media: Patricia Nash Christel, 302-283-4076, patricia.christel@navient.com
Investors: Joe Fisher, 302-283-4075, joe.fisher@navient.com
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