Tags: Yahoo | Share | Buyback | Billion

Yahoo Boosts Share Buyback by $5 Billion

Tuesday, 19 Nov 2013 06:25 PM

Yahoo! Inc. boosted its share buyback plan by $5 billion, returning more cash to shareholders as Chief Executive Officer Marissa Mayer seeks to revive growth at the largest U.S. Internet portal.

Yahoo will also raise $1 billion in convertible debt funding maturing in 2018, the Sunnyvale, California-based company said in a statement Tuesday.

Mayer’s turnaround has focused on acquisitions of smaller technology companies that can add to the company’s talent pool or reach new sets of users. The buyback authorization is the latest since Yahoo agreed in July to repurchase 40 million of its shares Third Point LLC, run by activist-investor Daniel Loeb. Yahoo sold half its stake in Alibaba Group Holding Ltd. last year and said it would return most of the $3.65 billion in proceeds to shareholders.

Yahoo has made $5.3 billion in buybacks since January 2012, including $1.7 billion in the third quarter, the company said on its earnings conference call on Oct. 15.

Yahoo shares rose 1.9 percent to $35.28 in extended Nasdaq trading, after falling 1 percent to $34.63 in regular trading.

© Copyright 2017 Bloomberg News. All rights reserved.

 
1Like our page
2Share
Companies
Yahoo! Inc. boosted its share buyback plan by $5 billion, returning more cash to shareholders as Chief Executive Officer Marissa Mayer seeks to revive growth at the largest U.S. Internet portal.
Yahoo,Share,Buyback,Billion
177
2013-25-19
Tuesday, 19 Nov 2013 06:25 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved