Spotify Board Approves Increase In Share Repurchase Program
(RTTNews) - Spotify Technology S.A. (SPOT, 639.DE, 1SPOT.MI) announced that its Board has approved an increase in its share repurchase program by an additional $1.5 billion. The increase brings the total authorization under the share repurchase program to approximately $2.223 billion.
The repurchase program will run for as long as the shareholders' authorization to the Board of Directors to repurchase ordinary shares remains in force. The repurchase program will be executed consistent with the company's capital allocation strategy. The timing and actual number of shares repurchased will depend on a variety of factors.
At last close, Spotify Technology shares were trading at $533.13 on NYSE, down 0.04 percent.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.