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Second-Quarter 2013 Corporate Buyback Scorecard 251-268

Second-Quarter 2013 Corporate Buyback Scorecard 251-268

Buyback
Scorecard

The table below ranks the 268 companies in the S&P 500 that bought back at least 4 percent or $1 billion of their shares from June 30, 2011 through June 30, 2013. The companies are ranked according to their return on investment from these repurchases. As calculated by Fortuna Advisors, a New York City-based consultancy that compiled the data for Institutional Investor, buyback ROI measures the overall rate of return of buybacks, based on the internal rate of return of the cash flows associated with them. Buyback strategy tracks the performance of the underlying stock in terms of annualized total shareholder return. Once Fortuna determines buyback ROI and buyback strategy, buyback effectiveness can then be calculated as simply the difference between the two, determined as compounded return.

How the S&P 500 Stack Up as Stock Repurchasers
Company Industry Market
Capitalization
$ Total
Buyback
$ Total
Buyback
/ Market Cap
Buyback
Strategy
Buyback
Effectiveness
Buyback ROI
Average$38,681$2,9129.3%13.5%10.4%25.0%
Median$15,858$1,3508.1%13.5%9.7%24.1%
251Red HatSoftware and Services$9,052$4144.6%4.3%-4.8%-0.7%
252NetApp.Technology Hardware and Equipment$13,643$1,84013.5%-15.6%17.2%-1.1%
253LSI Corp.Semiconductors and Semiconductor Equipment$3,924$49712.7%-1.3%-1.2%-2.5%
254EMC Corp.Technology Hardware and Equipment$49,622$2,5765.2%-6.8%3.9%-3.2%
255CenturyLinkTelecommunication Services$21,530$9054.2%1.5%-5.2%-3.8%
256Expeditors International of WashingtonTransportation$7,859$3884.9%-13.3%10.6%-4.1%
257Citrix Systems.Software and Services$11,295$5775.1%-9.7%5.6%-4.7%
258CoachConsumer Durables and Apparel$16,042$1,1006.9%-0.2%-6.2%-6.4%
259Altera Corp.Semiconductors and Semiconductor Equipment$10,561$5435.1%-14.2%8.8%-6.7%
260DellTechnology Hardware and Equipment$23,400$1,8618.0%-6.1%-1.2%-7.2%
261CH Robinson WorldwideTransportation$9,041$5776.4%-12.2%5.0%-7.8%
262Juniper NetworksTechnology Hardware and Equipment$9,776$1,08311.1%-29.5%28.7%-9.2%
263Devon Energy Corp.Energy$21,062$1,0424.9%-17.4%9.4%-9.7%
264Edwards Lifesciences Corp.Healthcare Equipment and Services$7,591$7449.8%-9.0%-6.9%-15.2%
265Teradata Corp.Software and Services$8,208$5506.7%-0.2%-19.0%-19.2%
266F5 NetworksTechnology Hardware and Equipment$5,421$4858.9%-13.6%-6.6%-19.3%
267AppleTechnology Hardware and Equipment$372,202$17,9504.8%14.0%-50.1%-43.1%
268Cliffs Natural ResourcesMaterials$2,488$29011.7%-52.4%-3.9%-54.3%
Source: Fortuna Advisors Analysis using data from the Capital IQ database. Financial Data from June 2011 to June 2013. Includes the 487 members of the current S&P 500 that were public for the full period. Market Capitalization as of: 06/30/2013. Companies Included here if $ Total Buyback / Market Capitalization is greater than 4% or if $ Total Buyback is greater than $1 Billion.

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