SAN RAFAEL, Calif - Autodesk, Inc today announced that its Board of Directors has approved the repurchase of up to 20 million shares of the company's common stock, in addition to approximately 5.5 million shares remaining under previously authorized share repurchase programs. The repurchase plan helps offset dilution from Autodesk's equity compensation programs.
The stock repurchase authorization does not have an expiration date and the pace and timing of repurchases will depend on factors such as levels of cash generation from operations, the volume of stock option exercises by employees, cash requirements for acquisitions, economic and market conditions, stock price and legal and regulatory requirements.
In the first three quarters of fiscal 2010, Autodesk repurchased approximately 7 million shares of its common stock at an average price of $29.13 per share.
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