Wiley directors to buy back shares

Wiley directors to buy back shares

<p>Academic publisher John Wiley &amp; Sons&#39; board of directors is to embark on a four million share buyback programme.</p><p>The programme comes after the publisher reported a first quarter sales increase of 5% to $408m.</p><p>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.</p><p>William J Pesce, president and c.e.o. of John Wiley, said: &quot;Wiley&#39;s strong cash flow will enable us to repurchase shares, pay dividends, and reduce the Company&#39;s debt, while continuing to invest in organic growth opportunities and acquisitions.&quot;<br /> </p>