MONROE, La.--(BUSINESS WIRE)--Dec. 21, 2005--CenturyTel, Inc.
(NYSE: CTL) has completed its previously announced accelerated share
repurchase program.
On May 31, 2005, CenturyTel
entered into accelerated share
repurchase agreements with three investment banks under which it
repurchased and retired approximately 12.9 million shares of its
outstanding common stock, at an average initial price of $32.34 per
share. On December 16, 2005, the investment banks completed their
repurchase of an equivalent number of shares in the open market and on
December 21, 2005, CenturyTel
made a cash settlement payment of
approximately $21.0 million to the investment banks to complete the
program.
With the completion of this program, CenturyTel
may now repurchase
additional common stock under its $200 million repurchase program
announced in February 2005. As of the date of this release, CenturyTel
retains authority under this program to purchase approximately $86
million of its shares through February 28, 2006.
CenturyTel
(NYSE: CTL) delivers advanced communications with a
personal touch. The Company, included in the S&P 500 Index, is a
leading provider of consumer and business communications solutions in
rural areas and small to mid-size cities in 26 states. Visit
CenturyTel
at www.centurytel.com.
CONTACT: CenturyTel, Inc.
Media:
Patricia Cameron, 318-388-9674
patricia.cameron@centurytel.com
or
Investors:
Tony Davis, 318-388-9525
tony.davis@centurytel.com
www.centurytel.com
SOURCE: CenturyTel, Inc.