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In Brief: P&G stock buyback

This article was originally published in The Tan Sheet

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Executive Summary

P&G stock buyback: Procter & Gamble plans to repurchase up to 11 mil. shares of its outstanding common stock, with a total value of $1 bil., during fiscal 1996-97. The company notes that this plan is in addition to the annual repurchasing program of 4-5 mil. common shares announced in 1995. P&G explains that its "strong cash position and modest level of acquisition activity" during 1995-96 allow it to initiate the buyback...

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