Tech Data buys $1B of its shares

CLEARWATER -- Tech Data Corp. (symbol: TECD) committed another $100 million towards repurchasing its own shares this week, boosting the value of current investors' holdings.

On Oct. 31, Tech Data reported in its financial statements that it held nearly $900 million in cash.

Including this most recent repurchasing commitment, Tech Data has spent $1 billion on share buyback since 2005. Robert Dutkowsky, the Clearwater firm's CEO, says the repurchasing effort “demonstrates our confidence in Tech Data's financial performance and future growth opportunities.”