Paxar Corporation (NYSE: PXR) announced that its Board of Directors has authorized an increase in Paxar's share repurchase program. The Board approved the repurchase of up to $150 million of its shares, up from the $100 million previously authorized. Paxar commenced its share repurchase program in August 1998 with an authorization to buy-back $25 million of its shares. The Company subsequently increased the program to $40 million in February 1999, to $70 million in February 2000 and to $100 million in August 2000. Since the inception of the program, Paxar has repurchased approximately 8.5 million shares at a total cost of $83 million. In its recent Form 10-Q filing, Paxar reported 41.9 million shares outstanding at November 6, 2001.
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