Sally Beauty Announces New $1 Bln Stock Buyback Program

(RTTNews) - Sally Beauty Holdings, Inc. (SBH) said Wednesday that its Board of Directors has approved a new share repurchase program authorizing the Company to repurchase up to $1.0 billion of its common stock during the period from August 20, 2014 through September 30, 2017.

The share repurchase program is the fourth repurchase authorized by the company and terminates the company's prior $700 million share repurchase program under which the company had repurchased $546 million of its common stock as of June 30, 2014.

The company expects to fund the share repurchases through a combination of cash on hand, future cash flow from operations and borrowings.