Ciena Board Authorizes $300 Mln Share Buyback - Quick Facts

(RTTNews) - Ciena (CIEN) announced that its Board has authorized a program to repurchase up to $300 million of the company's common stock through the end of fiscal 2020. The share repurchase program will be funded with cash on hand or cash generated from operations.

Ciena noted that it may purchase shares at management's discretion in the open market, in privately negotiated transactions, in transactions structured through investment banking institutions, or a combination of the foregoing. The company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its shares under the authorization.