International Game Technology Completes $400 million Accelerated Stock Buyback
LAS VEGAS, Dec. 19, 2012
LAS VEGAS, Dec. 19, 2012 /PRNewswire/ --International Game Technology (NYSE:
IGT) today announced that it has completed its $400 million accelerated stock
buyback which was announced on June 14, 2012.
Under the terms of the accelerated stock buyback agreement, Goldman, Sachs &
Co. will have delivered 30.3 million shares (27.8 million in the fiscal 2012
and 2.5 million in the fiscal first quarter of 2013) to IGT at an average
price of $13.22 per share, representing over 10% of the total shares
outstanding when the program commenced.
"In total, including dividends and shares repurchased, we returned over $540
million to our shareholders and significantly reduced our share count in the
2012 fiscal year," said Patti Hart, CEO of IGT. "As also evidenced by our
recent 17% increase in our quarterly dividend, we remain committed to
consistently returning cash to shareholders and confident in the outlook for
continued strong financial performance of the company."
The accelerated share repurchase program was completed under the Company's
current $1 billion share repurchase program that was approved by the Company's
Board of Directors in June of 2012. The company has $600 million remaining on
International Game Technology (NYSE: IGT) is a global leader in the design,
development and manufacture of gaming machines and systems products, as well
as online and mobile gaming solutions for regulated markets. More information
about IGT is available at www.IGT.com or follow IGT on Twitter at @IGTNews or
Facebook at www.facebook.com/IGT.
SOURCE International Game Technology
Contact: Matt Moyer, Vice President, Investor Relations of IGT, +1
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