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Sysco Board OKs Buyback of 20MM Shares

HOUSTON - Sysco Corp. here said today that its board approved a stock buyback of 20 million shares, citing strong cash flow.

The distributorship said the repurchase plan is its 12th since 1992. Sysco has fewer than 5 million shares remaining under its previous buyback authorization, which it plans to purchase before starting the new program. The company has about 637 million shares outstanding.

Sysco said it also continues to invest in a supply chain project, acquisitions, fold-outs and technology.

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