November 18, 2009 (FinancialWire) — United States Cellular Corp.’s (NYSE: USM) board has approved a new stock repurchase authorization for the repurchase of up to 1.3 million shares per calendar year.

The primary reason the company gave for the new authorization is to offset future dilution from benefit and compensation plans.

U.S. Cellular said the authorization replaces an existing one that permitted the company to repurchase up to five percent of the public float in any 12-month period. That authorization will be terminated at the end of this year.

Chicago-based United States Cellular is a wireless carrier that provides a range of wireless products and services to around 6.1 million customers in 26 states.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports, filings and conference call webcasts for companies mentioned in the news are available via Investrend Syndications (http://investrend.ar.wilink.com/?level=279). Tuesday’s issued reports and/or recorded webcasts include Cavico Corp. (OTCBB: CVIC), Thornburg Ltd. Term Income Fund (NASDAQ: THIFX), Apache Corp. (NYSE: APA), Baytex Energy Trust (NYSE: BTE), Citizens, Inc. (NYSE: CIA), Scottish Oriental Smaller Companies Trust PLC (OTC: SCSHF) (London Stock Exchange: SOST), JPMorgan Elect Plc (London Stock Exchange: JPE) and Solitario Exploration & Royalty Corp. (AMEX: XPL).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.