UPS board ok's USD 2 billion stock buyback
United Parcel Service Inc., the world’s largest shipping carrier, said Tuesday in a regulatory filing its board authorized the company to buy back up to $2 billion in stock.
The authorization replaces the about USD 50 million that remains available under the February share repurchase authorization of USD 2 billion, the company said in a filing with the Securities and Exchange Commission.
UPSsaid it will purchase stock from time to time on the open market or in private transactions. The program has no time limit.
The Atlanta company has about 1.06 billion shares outstanding.
Shares of UPS have traded between USD 68.66 and USD 79.72 over the past 52 weeks and closed down 35 cents at USD 74.75.
