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.