Solera Announces New $375 Mln Stock Buyback Program

(RTTNews) - Solera Holdings, Inc. (SLH) said Thursday that its Board of Directors has approved a new $375 million common stock repurchase program effective through December 31, 2016.

The company expects to fund the repurchases through cash on hand and future cash flow from operations.

The new stock repurchase program replaces the company's previous stock repurchase program. Through November 19, 2014, the company has repurchased a total of about 4.15 million shares of its common stock under the two previous stock repurchase programs for an aggregate purchase price of about $219.7 million or an average of $52.93 per share.

As of November 3, 2014, Solera had about 68.23 million shares of common stock outstanding.