Lincoln National To Buy Back 2.3M Shares By Year End

Lincoln National Corporation today announced that it entered into an agreement to purchase approximately 2.3 million shares of its common stock from a third-party broker-dealer using an accelerated stock repurchase program for an initial purchase price of $150 million. Under the terms of the arrangement, Lincoln may receive, or be required to pay, a price adjustment based on the volume weighted average market price of Lincoln National Corporation common stock during the term of the program. The price adjustment can be settled, at Lincoln's option, in cash or in shares of its common stock. Lincoln expects the program to be completed in the fourth quarter of 2006.

Lincoln National To Buy Back 2.3M Shares By Year End
Source: PR Newswire