Syncor Plans to Buy Back Up to 500,000 Shares

Syncor International Corp., a Chatsworth provider of specialized pharmaceuticals, said its board of directors authorized the repurchase of up to 500,000 shares of Syncor stock, or about 5% of its 10 million common shares outstanding. At the current stock price of about $6.50 a share, the repurchase is valued at $3.25 million.

Syncor said the stock repurchases would be funded by its ongoing cash flow and would take place occasionally on the open market.