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Cogent Communications Group, Inc.
Cogent Communications Group, Inc. Announces Increase of Stock Repurchase Plan
June 29th, 2008
Cogent Communications Group, Inc. (NASDAQ:CCOI) announced that its board of directors has authorized the Company to repurchase up to an additional $50 million of its shares of common stock in open market and negotiated purchases through December 31, 2009. This is in addition to the $50 million authorized by the board in August 2007. Cogent stated that it implemented the program due to its faith in its growth opportunities and that it believed the program would benefit its stockholders. Cogent currently has approximately 46.2 million common shares outstanding. Cogent has repurchased approximately 2.8 million shares for approximately $50 million since August 2007, and it had previously...
Source: Pharma Investments, Ventures & Law Weekly (2008-06-29)
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