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Business/Financial

GD Boosts Share Repurchase Program

By Cal Biesecker

Thursday, February 6th, 2014

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GD Boosts Share Repurchase Program

GD Chairman and CEO Phebe Novakovic. Photo: GD

In line with an announcement last month, General Dynamics [GD] on Thursday boosted its stock repurchase program. GD said that its board has authorized the repurchase of up to 20 million shares of its common stock. That announcement follows the accelerated repurchase of 11.4 million shares of stock for $1.1 billion, which exhausted the previous authorization for share repurchases. During the company’s fourth quarter earnings call, GD Chairman and CEO Phebe Novakovic said management planned to accelerate the completion of…

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