COLUMBUS, Ind. (AP) -- Engine and generator maker Cummins Inc. said Tuesday its board approved the repurchase of up to $1 billion in stock.
The company said its current stock buyback plan will be completed soon. That was authorized in December 2007 and allowed the company to buy back up to $500 million in stock.
Cummins has about 196.4 million shares outstanding.
Cummins also declared a quarterly dividend of 26.25 cents, payable March 1 to shareholders of record on Feb. 18.
In late afternoon trading, shares of the company shed 20 cents to $111.61. Over the past year, the stock has traded between $48.49 and $114.81.
like the chart also. was in at 108 and sold it... that like 26% ... am i missing something??
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