CSG Systems International’s board of directors authorized the repurchase of up to $350 million of the company's outstanding common stock.
The provider of outsourced billing, customer-care and print and mail solutions and services added that its board approved a 10 million-share increase in the number of shares authorized for repurchase, bringing the total number of authorized shares under the program to 30 million.
When completed, the repurchase is expected to represent approximately 30% of the company's 47 million diluted shares of common stock currently outstanding, CSG said.
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