On Thursday, Shares of La Quinta Holdings Inc (NYSE:LQ), gained 1.17% to $18.96.
La Quinta Holdings, declared that its Board of Directors has approved a program to repurchase an aggregate of up to $100 million of the Company’s common stock, effective right away. The Company had formerly declared a $200 million program which would commence once the Company’s net debt to Pro Forma Adjusted EBITDA ratio falls below 4.0 times. However, given recent market activity, the Company and the Board of Directors have decided to accelerate a portion of the program.
The share repurchase of $100 million is predictable to be funded by up to a $30 million draw on the Company’s revolver, with the remainder from available cash. As a result, the Company anticipates that its net debt to Pro Forma Adjusted EBITDA ratio will remain above the Company’s formerly stated target of 4.0 times. The Company anticipates to execute the repurchases, depending on conditions, in open market transactions or in negotiated transactions off the market.
La Quinta Holdings Inc. owns, operates, and franchises select-service hotels under the La Quinta brand. It serves the upper-midscale and midscale segments. As of May 7, 2015, the company had about 870 hotels with about 86,000 rooms under the La Quinta Inn & Suites, La Quinta Inn, and LQ Hotel brands in 47 states of the United States, in addition to in Canada, Mexico, and Honduras. The company was founded in 1968 and is headquartered in Irving, Texas.
Shares of Thomson Reuters Corp (NYSE:TRI), declined -0.79% to $40.00, during its last trading session.
Thomson Reuters introduced its Checkpoint Learning Tax Fundamentals Certificate Program to provide practitioners with foundational knowledge in a broad range of tax topics and assists them develop overall tax competency.
The Tax Fundamentals Certificate Program provides practitioners with the basic knowledge and tools they need to understand and confidently expand their practices to tax planning, compliance with tax return preparation, and reporting requirements for individual, partnership, C corporation, and S corporation taxation.
Thomson Reuters Corporation provides intelligent information for businesses and professionals worldwide. The company sells electronic content and services to professionals primarily on a subscription basis. It operates through four segments: Financial & Risk, Legal, Tax & Accounting, and Intellectual Property & Science.
Finally, Booz Allen Hamilton Holding Corporation (NYSE:BAH), ended its last trade with 1.46% gain, and closed at $27.72.
Booz Allen Hamilton Holding, will host a conference call at 8 a.m. EDT on Wednesday, October 28, 2015, to discuss the financial results for its Second Quarter Fiscal Year 2016 (ending September 30, 2015).
Booz Allen Hamilton Holding Corporation provides administration consulting, technology, and engineering services to corporations, institutions, not-for-profit organizations, and the U.S. government in defense, intelligence, and civil markets in the United States and internationally.
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