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By Sam Boughedda
Investing.com — Superior Micro Units Inc (NASDAQ:) stated Thursday night that its board of administrators accredited a brand new $8 billion share repurchase program.
AMD shares rose 3.84% Friday on the again of the information. They closed the week out at simply above the $121 mark.
The brand new authorization is along with the $4 billion share repurchase program introduced in Might 2021. Below the beforehand introduced program, AMD firm has repurchased roughly $3 billion of shares of frequent inventory.
The corporate stated the brand new program — which has no termination date — is designed to return worth to shareholders by offsetting dilution from inventory issuances and decreasing share depend over time.
AMD will fund repurchases via money generated from operations.
“We’re happy to broaden our share repurchase program primarily based on the power of our stability sheet and expectations for future free money circulate era,” stated AMD Chair and CEO Dr. Lisa Su.
“With our sturdy monetary efficiency, we’re capable of enhance investments to drive long-term development whereas returning extra worth to our shareholders.”
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