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Movado board approves $50 million share buyback program

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Movado Group Inc., of Paramus, today announced its board of directors has approved a share buyback program under it may purchase up to $50 million of its outstanding common shares.

The company announced the authorization expires Jan. 31, 2016, and will be subject to market conditions, share price and other factors. Movado said the shares will be purchased primarily to mitigate the dilutive impact of equity grants during the course of the next few years.

Write to the Editorial Department at editorial@njbiz.com

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