Chevron to Buy Back

Chevron Corp. announced a $15 billion share-buyback plan after completing three $5 billion repurchase since 2005.

Chairman and Chief Executive Dave O'Reilly said, "We believe it is appropriate to continue to return cash to our stockholders through share repurchases."

The San Ramon, Calif., oil giant finished prior $5 billion repurchase efforts in 2005, 2006 and this month. Acquisitions under the latest program will be made "from time to time" and "may be discontinued at any time."

The $15 billion makes up about 7% of Chevron's market capitalization based on Tuesday's close.

Read Full Article from Wall Street Journal

- Posted: 2007-09-26 10:10:32

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