RIM announces common share repurchase program

Comments

RIM’s Board of Directors have authorized a share repurchase program to purchase common shares having an aggregate purchase price of up to US$ 1.2 billion, or approximately 21 million common shares based on current trading prices (representing approximately 3.6% of the currently outstanding common shares of RIM).

The Board of Directors feel that this program is in the best interests of RIM and its shareholders. While their motives were not explicitly stated in the press release, a share repurchase program is generally about increasing ownership of the company by reducing the number of outstanding shares. Overall, this company is going to continue to grow and the more control and ownership RIM has, the better.