Entergy authorizes additional share buyback - MSNewsNow.com - Jackson, MS

Entergy authorizes additional share buyback

NEW ORLEANS (AP) - Power provider Entergy Corp. has authorized up to $500 million in additional share buybacks while planning to finish its current $750 million repurchase plan by the end of the year.

In an announcement late Friday after financial markets closed, Entergy also initiated 2011 earnings guidance, saying it expected an annual profit to range from $6.35 to $6.85 per share.

Analysts surveyed by Thomson Financial, on average, have forecast 2011 earnings of $6.64 per share.

Entergy said its latest buyback program would occur in increments when market conditions are favorable for the company.

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