Facebook increases share buyback programme by USD 9 bln

News General Global 10 DEC 2018
Facebook increases share buyback programme by USD 9 bln

Facebook has again upped its share buyback programme by USD 9 billion, the Wall Street Journal reported, citing a securities filing. The company approved its current plan in 2017, for share buybacks of up to USD 15 billion, with no expiration date. It then gave a boost of USD 9 billion in April, not long after the Cambridge Analytica scandal started.

Facebook used USD 9.39 billion of the fund in the first nine months of this year to repurchase 54 million shares of its class A common stock, according to its quarterly filing with the Securities and Exchange Commission at end October. At the time, it said it had USD 3.54 billion remaining in the programme.

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General

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Facebook

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Shareholders & subsidiaries, Corporate strategy, Financial funding

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