Tidewater announced today that its board has authorized a new program for the company to spend up to $200M, effective July 1, 2012 and through June 30, 2013, to repurchase shares of its common stock in open-market or privately-negotiated transactions. The company’s current repurchase program will continue in effect through June 30, and, through May 15, a total of 1.174M of its common shares have been purchased by the company under this program at a total cost of $56.5M, or an average price paid per common share of $48.07. As of May 15, the company had $143.5M remaining authorized under the current repurchase program available to repurchase shares through June 30.
America has no tolerance for wealthy people griping about their financial woes. But they have concerns too.