Rowan's board of directors has authorized the Company to repurchase up to $100 million in shares of its common stock.
Matt Ralls, Rowan's President and Chief Executive Officer, commented, "This share repurchase program is an expression of confidence in Rowan's long-term future and ability to continue to create shareholder value."
This program is effective immediately. Repurchases under this program will be made through the open market or in privately negotiated transactions. These repurchases may be commenced or suspended from time to time without prior notice.
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