Courtesy of Benzinga.
CNO Financial Group, Inc. (NYSE: CNO) today announced that its board of directors has approved an additional $100 million to repurchase the company’s outstanding common stock. This amount is in addition to the approximately $30 million remaining on its previous authorization, for a combined repurchase authority totaling $130 million. The program is intended to be implemented through purchases made from time to time in either the open market or through private transactions, in accordance with Securities and Exchange Commission requirements.
The amount and timing of the share repurchases (if any) will be based on business and market conditions and other factors. As of December 31, 2011, CNO had approximately 241 million shares outstanding.
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