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Academic publisher John Wiley & Sons' board of directors is to embark on a four million share buyback programme.
The programme comes after the publisher reported a first quarter sales increase of 5% to $408m.
Operating income grew 13% to $63m. It also recently increased its dividend for the 16th consecutive year and reduced net debt by $224m in its 2010 financial year.
William J Pesce, president and c.e.o. of John Wiley, said: "Wiley's strong cash flow will enable us to repurchase shares, pay dividends, and reduce the Company's debt, while continuing to invest in organic growth opportunities and acquisitions."