Laureate Education Boosts Buyback Plan To $650M

• Laureate Education Inc (NASDAQ:LAUR) board of directors approved an increase in the existing share repurchase program from $600 million to $650 million.
• The company has repurchased about $530 million of shares under the authorization to date.
• Laureate expects to finance the additional $50 million of repurchases with cash-on-hand or from its revolving credit facility.
• The company expects to complete the repurchase program by the end of 2022.
• Laureate Education held $345.6 million in cash and equivalents as of December 31, 2021.
• Price Action: LAUR shares closed lower by 1.40% at $11.98 on Monday.