Cendant Corporation (NYSE:CD) Message Board

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Non-Tech : Cendant Corporation (NYSE:CD)

CD 5.560

+0.9%

10:20 AM EST

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To: Rainy_Day_Woman who wrote (2969)	2/3/1999 9:27:00 AM
From: Rainy_Day_Woman	Read Replies (1) of 3627

Cendantsays board OKs stock buyback increase NEW YORK, Feb 2 (Reuters) - Direct marketer and franchisor Cendant Corp (NYSE:CD - news). said Tuesday that its board authorized a $200 million increase in its share repurchase program to $1.2 billion. Cendant said that it has purchased about $950 million of its common stock, or about 48 million shares, on the open market under the stock buyback program, which began in the fourth quarter of 1998. The company said that to date it has trimmed its primary shares outstanding by about 55 million shares, or about 6.5 percent, including 7.1 million shares acquired as part of the sale of Hebdo Mag International. According to S&P Marketscope, Cendant had 853.1 million shares outstanding as of Jan. 29. Company officials were not immediately available for comment. Cendant shares were trading at 22-7/16 on the New York Stock Exchange in the early morning, up 5/16 on the day. The company's 12-month high is 41-11/16 and its 12-month low is 6-1/2.

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