TeleTech Announces Additional $25 Mln Stock Buyback Authorization

(RTTNews) - TeleTech Holdings, Inc. (TTEC) said Thursday that its Board of Directors has approved an incremental $25 million authorization under its share repurchase program.

"The additional authorization continues to demonstrate the Board of Directors' confidence and commitment in our business strategy and value-driven deployment of our strong balance sheet and cash flow generation," said Kenneth Tuchman, TeleTech's chairman and chief executive officer.

In the first six months of 2013, TeleTech repurchased about 1.4 million shares of common stock for a total of about $31 million. As of June 30, there was $19.4 million authorized for future share repurchases.