Business News
DPL Completes Buyback
TSC and IRIS Staff
08/17/06 - 12:36 PM EDT
Utility company DPL(DPL Quote) said Thursday it completed a $400 million stock buyback program.
The buyback resulted in the repurchase of 14.9 million shares, or about 11.7% of its outstanding common stock, at an average price of $26.91 a share.
The sale of Dayton, Ohio-based DPL's private equity portfolio in 2005 funded the stock buyback program as well as debt reduction of about $450 million.
The shares of the company were down 24 cents at $27.29.