La Quinta Holdings Inc. Accelerates Share Repurchase Program
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La Quinta Holdings (LQ) Approves Lighter $100M Common Stock Buyback Plan; Trims FY15 RevPAR Growth Outlook, Updates Guidance
September 17, 2015 4:21 PM EDTLa Quinta Holdings (NYSE: LQ) announced that its Board of Directors has approved a program to repurchase an aggregate of up to $100 million of the Company's common stock, effective immediately. The Company had previously announced a $200 million program which would commence once the Company's net debt to Pro Forma Adjusted EBITDA ratio falls below 4.0 times. However, given recent market activity, the Company and the Board of Directors have decided to accelerate a portion of the program.
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