Cummins approves $1B share buyback

|About: Cummins Inc. (CMI)|By:, SA News Editor

Cummins (NYSE:CMI) authorizes the repurchase of up to $1B worth of its common stock following the completion of a 2015 $1B buyback program.

Based on Thursday's $138.84 closing price, CMI's program would allow the repurchase of 7.2M shares, or ~4.3% of current shares outstanding.

CMI +0.5% premarket.

Subscribe for full text news in your inbox