WASHINGTON, Dec. 04, 2020 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN), today announced that on December 3, 2020, FTI Consulting’s Board of Directors authorized the additional amount of $200.0 million to repurchase its outstanding shares of common stock under its stock repurchase program. As of December 2, 2020, FTI Consulting has repurchased approximately 10.2 million shares of its outstanding common stock pursuant to its stock repurchase program at an average price per share of $65.31 for an aggregate cost of approximately $669.5 million. After giving effect to share repurchases through that date and the increased authorization, FTI Consulting has approximately $230.5 million remaining available for common stock repurchases under its program. No time limit has been established for the completion of FTI Consulting’s stock repurchase program, and the program may be suspended, discontinued or replaced by the Board at any time without prior notice.
Under its stock repurchase program, FTI Consulting may repurchase common shares in open-market purchases or by any other method in accordance with applicable securities laws and regulations. The specific timing and amount of repurchases will be determined by FTI Consulting’s management, in its discretion, and will vary based on market conditions, securities law limitations and other factors. The repurchases may be funded using available cash on hand or a combination of cash and available borrowings under FTI Consulting’s senior secured revolving bank credit facility.
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 6,200 employees located in 28 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $2.35 billion in revenues during fiscal year 2019. More information can be found at www.fticonsulting.com.
