Convergys Corp., a business services outsourcer, said Tuesday its board has authorized a plan to buy back an additional $200 million in company shares.
The Cincinnati company plans to fund the repurchase with cash generated from its business and asset sales. The authorization doesn't obligate the company to buy back a specific amount of shares, and the plan may be suspended or discontinued at any time.
Company shares jumped about 4 percent, or 34 cents, to $8.94 in late morning trading, while the Dow Jones industrial average fell nearly 1 percent.
