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Thursday, November 05, 2009
Research In Motion To Buy Back $1.2 Billion Stock
By Steve Goldstein
MarketWatch Pulse
LONDON -- Research In Motion , the Waterloo, Ontario maker of the BlackBerry mobile device, said it will buy back up to $1.2 billion of its own stock. That represents about 21 million shares or 3.6% of its outstanding stock and the buyback plan will last for up to 12 months. The company said the buyback won't impact its growth given the strength of the balance sheet and expected cash flow generation for the next several quarters.
Copyright © 2009 MarketWatch, Inc.
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