Cummins (CMI) authorizes an additional repurchase of up to $1B in common stock. The program was approved as the company approaches completion of its current $1B share repurchase program approved by the Board in February 2011. The buyback is part of a larger program by CMI to return value to shareholders, and follows a 25% increase in the dividend announced back in July. Shares +1.4% AH.
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