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Covanta to repurchase up to $30 million in shares



By AP
23 September 2008 @ 12:38 am AEST

HARTFORD, Conn. - Covanta Holding Corp., owner and operator of energy from waste and renewable energy projects, has authorized the repurchase of up to $30 million of its stock, the company announced Monday.

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The board has determined that the authorization will allow the company to respond to volatile market conditions.

The company has about 154.3 million shares outstanding.

Shares of Covanta fell to $25.05 in early morning trading, about 34 cents. Over the past 52 weeks, the stock has traded between $20.40 and $30.37.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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