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Its cash on hand declined by $37 million, to $1.71 billion in the quarter, largely because it repurchased $60 million of its stock.
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Over all, it paid an average of $36.10 for the shares it repurchased.
In 2006, it repurchased 116.6 million shares, at a cost of $9.1 billion.
If it repurchased 15percentt at a discount of 8percentt, it would save $16 million.
Consistent with that theme, in early 2006, it repurchased $653 million of stock, completing a debt-financed $2.5 billion share repurchase effort.
He later sold it, repurchased it and resold it again in 1968.
Alcoa said it repurchased approximately 14 million shares in the first quarter.
Sotheby's, the auction house, said Monday it had repurchased its Upper East Side headquarters for $370 million.
McDonalds also announced that it had repurchased $2 billion of its common stock in the quarter.
Again, plaintiffs merely allege "red flags" and then conclude that the board is liable for waste because Citigroup repurchased its stock before the stock dropped in price as a result of Citigroup's losses from exposure to the subprime market.
It also repurchased 7.3 million shares for about $200 million in the quarter.
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