All posts from in,

Teradata Announces $500 Million Increase in Share Repurchase Authorizations

ATLANTA, Aug. 20, 2015 /PRNewswire/ -- Teradata Corporation (NYSE: TDC), the leading analytic data solutions company, today announced that its Board of Directors has authorized an additional $500 million for share repurchases, expiring August 20, 2018, under its general open market share repurchase program. The company now has total Board of Directors authorization of approximately $860 million when the new $500 million authorization is combined with the $360 million still remaining from the current outstanding authorization.

"The additional $500 million authorized by Teradata's Board of Directors for stock repurchases reflects our belief that the actions we are taking to improve our results will be successful and generate enhanced value for our shareholders. Further, this action illustrates our belief that Teradata's ability to generate cash from operations will be in excess of the capital needed to invest for the future growth of our business," said Mike Koehler, chief executive officer, Teradata Corporation.

"The key actions we are taking are focused on 1) broadening the market opportunity for our data warehouse business by creating more ways to deploy and purchase Teradata; 2) scaling and increasing margins year on year with our Big Data, Teradata Cloud and Marketing Applications businesses and 3) optimizing our cost structure."

The stock is anticipated to be repurchased periodically on an ongoing basis in open market transactions at management's discretion, in accordance with applicable securities rules regarding issuer repurchases. Such repurchases by the company will be based on various factors including price and market conditions, and will be funded through free cash flow, existing credit facilities and possible new debt arrangements that are being considered by the company. Additionally, repurchases may be made under Rule 10b5-1 of the Securities Exchange Act of 1934. A Rule 10b5-1 plan allows...