Does CSC have a common stock buyback program in place?
On December 13, 2010, CSC announced that its board of directors approved a new share repurchase program authorizing up to $1 billion in share repurchases of the company’s outstanding common stock. CSC expects to implement the program through purchases made in open market transactions in compliance with Securities and Exchange Commission Rule 10b-18, subject to market conditions, and applicable state and federal legal requirements. Share repurchases will be funded with available cash. The timing, volume, and nature of share repurchases will be at the discretion of management, and may be suspended or discontinued at any time. CSC’s board has not established an end date for the new repurchase program.
