JERSEY CITY, N.J., June 4, 2014 — Verisk Analytics, Inc. (Nasdaq:VRSK), a leading provider of information about risk, today announced its board of directors approved an incremental $300 million of authorization under its share repurchase program.
Scott Stephenson, president and chief executive officer, commented, “Verisk’s strong financial position and free cash flow generation enable us to continue to execute our commitment to growth and innovation through internal investments and acquisitions, while also continuing our share repurchase program.”
“The authorization will allow us to continue our program to limit dilution from our stock compensation programs while providing flexibility to repurchase additional shares as appropriate. Verisk's share repurchase philosophy remains unchanged,” concluded Stephenson.
Under the program, Verisk may repurchase shares in the open market or as otherwise may be determined by the company, subject to market conditions, business opportunities, and other factors. The company has no obligation to repurchase shares under the program.
The authorization has no expiration date and may be suspended or terminated at any time. Repurchased shares will be recorded as treasury stock but will be available for future reissuance.
About Verisk Analytics
Verisk Analytics (Nasdaq:VRSK) is a leading provider of information about risk to professionals in insurance, healthcare, financial services, government, and risk management. Using advanced technologies to collect and analyze billions of records, Verisk Analytics draws on vast industry expertise and unique proprietary data sets to provide predictive analytics and decision support solutions in fraud prevention, actuarial science, insurance coverages, fire protection, catastrophe and weather risk, data management, and many other fields. In the United States and around the world, Verisk Analytics helps customers protect people, property, and financial assets. For more information, visit www.verisk.com.
Contact:
Investor Relations
Eva Huston
Senior Vice President and Treasurer, Corporate Finance and Investor Relations
Verisk Analytics, Inc.
201-469-2142
eva.huston@verisk.com
David Cohen
Director, Investor Relations and Business Analytics
Verisk Analytics, Inc.
201-469-2174
david.e.cohen@verisk.com
Media
Rich Tauberman
MWW Group (for Verisk Analytics)
202-600-4546
rtauberman@mww.com