ACCO Brands To Repurchase Up To $100 Mln Of Shares - Quick Facts

(RTTNews) - ACCO Brands Corp. (ACCO) announced Thursday that its board approved the repurchase of up to $100 million in shares of its common stock.

"We expect to execute this $100 million authorization while continuing to pay down debt, make long term investments in our business and pursue strategic opportunities that may arise," said Boris Elisman, president and chief executive officer of ACCO Brands.

As of June 30, 2014, the Company had outstanding approximately 114.2 million shares of common stock, and its balance of cash and cash equivalents was approximately $92.3 million. ACCO Brands said it may enter into additional Rule 10b5-1 repurchase plans, but does not intend to issue any further press releases regarding the entry into such plans. ACCO Brands expects to have sufficient liquidity to support this initiative.