Cogent Systems broadens share repurchases
17 November, 2008
category: Biometrics
Cogent Systems, a developer of biometric technology, has announced that their board of directors has approved an extension of their stock repurchasing plan to November 12, 2009. Additionally, they also approved the increase in funding for the plan allowing for a repurchase of $150 million in their own stock.
Cogent’s executives believe that the board’s decision reflects their confidence in the administrations ability to see continues growth in the company. During the next year, Cogent is not required to purchase any stock, but rather approved to use up to $150 million in available cash to purchase any of their own stock.