Open Text (OTEX) said Thursday it has raised its share repurchase program by $150 million to a total of $450 million.
The total number of shares that can be repurchased remain unchanged at 21.2 million shares, as approved by the Toronto Stock Exchange.
As part of the normal course issuer bid, the company has created an automatic share purchase plan with its broker to facilitate the repurchases.
The company has repurchased $258 million worth of shares since the beginning of the current repurchase program.
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