FedEx To Buy Back Up To 32 Mln Of Stock - Quick Facts

(RTTNews) - FedEx Corp.'s (FDX) board has approved a new share repurchase program of up to 32 million of its outstanding shares, which augment the rest of 7.4 million shares authorized for purchase as per the existing share repurchase program. The shares may be bought back from time to time in the open market or in privately negotiated transactions.

The company's Chairman, President and Chief Executive stated, "Our strong balance sheet provides us with the flexibility to initiate this stock repurchase program while continuing to execute our strategic growth initiatives."

In the fiscal 2014 first quarter, FedEx repurchased 2.8 million shares, while on September 30, 317 million common shares were outstanding.