Jack Henry & Associates Inc., a provider of core processing and payments software and services, announced Monday that its board authorized the repurchase of an additional 5 million shares of the Monett, Mo., company's stock.
From an original 3 million share authorization in September 2001, the board has progressively expanded the buyback program; the authorization now stands at 15 million shares.
Kevin D. Williams, the company's chief financial officer, said that Jack Henry had repurchased 7.3 million shares under its earlier, 10 million share authorization. "This reloads the gun," he said.
The company said it had 87.4 million shares outstanding as of Jan. 29. The board also increased the quarterly cash dividend by 15%, to 75 cents per share.
