SBA Communications Board Authorizes $1.0 Bln Stock Repurchase Plan - Quick Facts

(RTTNews) - SBA Communications Corporation (SBAC) announced that its Board has authorized a new $1.0 billion stock repurchase plan. The new plan authorizes the company to purchase from time to time its outstanding common stock through open market repurchases. Shares purchased will be retired. The company also announced the completion of its prior $300 million stock repurchase plan, repurchasing in May, the final $150 million of common stock authorized under the plan.

The company said the new plan is not expected to result in changes to its net debt/annualized adjusted EBITDA leverage level targets.