The Globe and Mail reports in its Saturday edition that Open Text is shifting its focus from acquisitions to returning more money to shareholders. The Globe's Sean Silcoff writes that Open Text said in May it planned to use half of its previous year's free cash flows for dividends and share repurchases and the other half for acquisitions. However, during the Thursday announcement of its fourth quarter results, it revealed that it would now use the portion allocated to mergers and acquisitions for the highest return of capital, which may include dividends, buybacks, debt reduction, or further M&A activities. Chief executive officer Mark Barrenechea said the best return on investment would come from purchasing the company's own stock. On Thursday Open Text announced a fresh $300-million (U.S.) share repurchase program, while increasing its annual dividend by 5 per cent. Open Text expects to return $570-million (U.S.) to shareholders in the 2025 fiscal year that started July 1 through dividends and buybacks, the highest amount in its history. Open Text is the fifth-most-valuable technology company on the Toronto Stock Exchange. It reported results for the quarter ended June 30 that came in below expectations.