August 25, 2011
EMC Authorizes Stock Repurchase
The board of directors at EMC Corp. of Hopkinton has authorized the company to repurchase up to $2 billion in stock this year.
The move represents an increase from a previous $1.5 billion authorization.
The board agreed to the buyback Aug. 18, when the stock price fell to $20.59 per share amid a general fall in stock markets.
The stock was trading around $21.40 this morning, compared with $27.45 one month ago.
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