Global Payments Inc. GPN,
he said in a filing Wednesday morning that he has entered into an accelerated stock repurchase program aimed at buying back $ 500 million of his common stock. The company expects to acquire approximately 2 million shares of common stock repurchased through the program on February 12. A final settlement for the accelerated stock repurchase program is expected to take place by the end of March 31. Global Payments announced in earnings Monday. announced that they intended to launch this program “in the coming days” after the company’s board of directors agreed to a general increase in the company’s buy-back authority, which raised the total amount up to $ 1.5 billion was available. Global Payments shares have gained 5.1% over the past three months as the S&P 500 SPX,
increased 10.3%.