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Cousins Board Authorizes Stock Repurchase

ATLANTA-Cousins Properties Inc. board of directors authorizes the company to repurchase up to five million shares of stock by May 9, 2009. In years past, the company has repurchased 2.6 million shares worth about $64.8 million.

By Natalie Keith | Updated on May 10, 2006

(To read more on the debt and equity markets, click here.)

ATLANTA-Cousins Properties Inc.’s board of directors has adopted a plan authorizing the company to repurchase up to five million shares of its common stock.

Under the plan, the company has until May 9, 2009 to purchase the stock in open market transactions under a 10b5-1 purchase plan and in negotiated and block transactions as market and business conditions warrant. Based on the market value of shares at the close of business on May 8, five million shares would be worth about $155 million.

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