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0.0123758865248227 0.013936170212766 0.0177304964539007 0.0240780141843972 0.0277304964539007 0.0365070921985816 0.0453014184397164 0.0353191489361701
Stock impact report

FLEETCOR Announces $500 Million ASR Program

FleetCor Technologies, Inc. (FLT) 
Last fleetcor technologies, inc. earnings: 2/6 04:05 pm Check Earnings Report
US:NYSE Investor Relations: investor.fleetcor.com
Company Research Source: Business Wire
ATLANTA--(BUSINESS WIRE)--Fleetcor Technologies, Inc. (NYSE:FLT), a leading global provider of commercial payment solutions, announced today that it has entered into an Accelerated Share Repurchase (“ASR”) program with Bank of America, N.A. to repurchase $500 million of common stock under its current share repurchase authorization.“We believe the fundamental growth outlook for our business is strong, and our current cash flow generation is sufficient to support both share buybacks and acquisitions,” said Eric Dey, chief financial officer, Fleetcor Technologies, Inc. “Additionally, our Q319 leverage ratio of 1.98 times EBITDA, coupled with significant availability in our credit facilities, provides the flexibility to deploy our capital opportunistically. We believe now is an opportune time to repurchase shares.”The Company expects to fund the repurchase with a combination of debt and cash.Approximately 85 percent of the shares expected to be repurchased under the transaction will b Show less Read more
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