AP via Forbes:

Citizens Communications Co., which provides phone and Internet services in rural areas, said Tuesday its board authorized the repurchase of up to $250 million common shares over the next 12 months.

The new stock repurchase program could result in the repurchase of up to 5 percent of the company’s common stock.

Citizens also said it expects to spend between $270 million and $280 million in capital expenditures in 2007.