Laureate Education Boosts Buyback Plan To $650M

Laureate Education Inc LAUR board of directors approved an increase in the existing share repurchase program from $600 million to $650 million.
The company has repurchased about $530 million of shares under the authorization to date.
Laureate expects to finance the additional $50 million of repurchases with cash-on-hand or from its revolving credit facility.
The company expects to complete the repurchase program by the end of 2022.
Laureate Education held $345.6 million in cash and equivalents as of December 31, 2021.
Price Action: LAUR shares closed lower by 1.40% at $11.98 on Monday.