A large financial services company says it has set aside cash for investing in its own shares.
Ameriprise Financial Inc., Minneapolis, says its board has approved spending up to $1 billion in additional funds on buying back shares of Ameriprise common stock between now and March 15, 2009.
Ameriprise can adjust how much it actually spends on buying back stock to accommodate changes in market conditions, the company says.
NOT FOR REPRINT
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.