By Colin Kellaher
Fiserv Inc. on Thursday said its board approved the repurchase of up to an additional 60 million shares.
The Brookfield, Wis., provider of payments and financial-services technology, which currently has about 670.4 million shares outstanding, said the new authorization is in addition to shares remaining available under prior buyback programs.
Fiserv had about 7.5 million shares remaining under previous approvals as of Sept. 30.
Fiserv sports a market capitalization of roughly $73.7 billion, based on Wednesday's closing price of $107.97. At that price, the new buyback program is valued at about $650 million.
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(END) Dow Jones Newswires