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Article: In Brief: Principal Financial OKs 4% Buyback.(Principal Financial Group Inc. )(Brief Article)
- Article from:
- American Banker
- Article date:
- December 26, 2001
CopyrightCOPYRIGHT 2001 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Principal Financial Group Inc. announced that its board of directors has authorized the repurchase of up to 15.3 million shares, or about 4% of the company's outstanding common stock.
The program's primary intention, the company said Dec. 4, is to buy in the shares issued under the exercise of an overallotment option by the underwriters for its initial public offering.
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