Janus Capital (JNS) said its board approved a new stock repurchase program that enables the company to buy back up to $500 million of its common stock.
The Denver-based mutual fund shop had $124 million remaining available under a prior buyback as of Dec. 31. "Our board remains committed to returning value to our stockholders," Janus CEO and Chief Investment Officer Gary Black said in a press release Tuesday. "We continue to believe our stock is an excellent investment and that buying back shares is a good use of our capital." Additionally, Janus said its board approved an amendment to the company's bylaws to require a director to receive a majority of the votes cast in an uncontested election. If they don't, the director will have to offer to resign. Shares of Janus edged down 23 cents to $21.06.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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| 12,801.23 | 1,342.64 | 2,903.88 | 19.69 |
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