(Bloomberg) -- Facebook’s board approved an $9 billion increase to the social media company’s share repurchase program.
- The repurchase program does not have an expiration date and shares may be repurchased through open market purchases or privately negotiated transactions
- Shares rose about 1.1% in after market trading and the stock has declined 24% in the past 52 weeks
- NOTE: April 25, Facebook previously increased the amount authorized under its share repurchase program by an added $9 billion to $15 billion.
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