Adobe Unveils New $2 Bln Stock Buyback Program

(RTTNews) - Publishing and design software maker Adobe Systems Inc. (ADBE) said Wednesday that its Board of Directors has approved a new stock repurchase program granting the company authority to repurchase up to $2.0 billion in common stock through the end of fiscal 2017.

Under the new stock repurchase program, which is designed to return value to Adobe's stockholders and minimize dilution from stock issuances, is substantially similar to the company's previous program authorizing the repurchase of up to $2.0 billion in common stock through fiscal 2015, which authority has been exhausted.