Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Grand Canyon Education Inc    LOPE

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

GRAND CANYON ED : Grand Canyon Education, Inc. Announces Increase in Stock Repurchase Program

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/04/2011 | 10:10pm CET

PHOENIX, Aug. 4, 2011 /PRNewswire/ -- Grand Canyon Education, Inc. (NASDAQ: LOPE) announced today that the Company's Board of Directors has increased the authorization under its existing stock repurchase program by $25,000,000 to a total of $50,000,000. The Company had less than $1,900,000 left under its original $25,000,000 authorization.

The new authorization allows the Company to repurchase from time to time at management's discretion up to an additional $25,000,000 of the Company's common stock during the period ending September 30, 2012, unless such period is extended or shortened by the Board of Directors. As of July 29, 2011, the Company had 44,294,925 million shares of common stock outstanding.

The plan permits the Company to make purchases in the open market at prevailing market prices or in privately negotiated transactions in compliance with applicable securities laws and other legal requirements. The level of purchase activity is subject to market conditions and other investment opportunities. The plan does not obligate Grand Canyon Education to acquire any particular amount of common stock and may be suspended or discontinued at any time. The repurchase program may be funded using the Company's available cash, short-term investments and revolving credit facility. As of June 30, 2011, the Company had unrestricted cash and cash equivalents of $14.7 million and restricted cash and cash equivalents of $45.9 million.

About Grand Canyon Education, Inc.

Grand Canyon Education, Inc. is a regionally accredited provider of online postsecondary education services focused on offering graduate and undergraduate degree programs in its core disciplines of education, business, healthcare and liberal arts. In addition to its online programs, it offers programs at its traditional campus in Phoenix, Arizona and onsite at the facilities of employers. Approximately 39,500 students were enrolled as of June 30, 2011. For more information about Grand Canyon Education, Inc., please visit http://www.gcu.edu.

SOURCE Grand Canyon Education, Inc.


© PRNewswire 2011
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GRAND CANYON EDUCATION INC
01/05 GRAND CANYON EDUCATION, INC. (NASDAQ : LOPE) Files An 8-K Financial Statements a..
01/05 GRAND CANYON EDUCATION, INC. : Other Events, Financial Statements and Exhibits (..
2017 GRAND CANYON EDUCATION INC : Free Research Report as Grand Canyon Education’s Re..
2017 FRIDAY SECTOR LAGGARDS : Education & Training Services, Apparel Stores
2017 GRAND CANYON EDUCATION : beats 3Q profit forecasts
2017 GRAND CANYON EDUCATION : Management's Discussion and Analysis of Financial Condi..
2017 GRAND CANYON EDUCATION, INC. : Results of Operations and Financial Condition, Fi..
2017 GRAND CANYON EDUCATION, INC. : Reports Third Quarter 2017 Results
2017 GRAND CANYON EDUCATION INC : Grand Canyon Education, Inc. to Host Earnings Call
2017 Grand Canyon Education, Inc. Announces Third Quarter 2017 Earnings Release Da..
More news
News from SeekingAlpha
2017 Grand Canyon lands perfect score from Thomson Reuters
2017 Moody's sours on U.S. higher education
2017 Bright Scholar Education Could Decline Substantially When Lockup Expires
2017 Barrington Research sees more upside for Grand Canyon Education
2017 Grand Canyon Education (LOPE) Q3 2017 Results - Earnings Call Transcript