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Ctrip.com (CTRP) +3.8% AH after announcing a $300M stock buyback program, good for repurchasing...
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Wednesday, June 13, 2012, 5:38 PM ETCtrip.com (CTRP) +3.8% AH after announcing a $300M stock buyback program, good for repurchasing 12.7% of outstanding shares at current levels. Ctrip says it will fund the buyback with available cash, but adds some of the cash will come from dividends its receives from its Chinese subsidiaries. Those dividends are subject to a 5% tax, which will hurt the company's EPS by $0.10. Ctrip shares have fallen ~40% from early March levels. (previous)
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