Wix Board Authorizes Share Repurchase Program - Quick Facts

(RTTNews) - Wix (WIX) said its Board has authorized a share repurchase program, under which the company may repurchase up to $300 million of its ordinary shares. The company noted that the repurchase program, as well as last year's $200 million share repurchase along with other initiatives, demonstrates the Board's ongoing focus on offsetting dilution associated with stock-based compensation, reducing share count over time and increasing shareholder value.

"We remain confident in our ability to generate free cash flow as laid out in our three-year plan, enabling us to continue to invest in our strategic initiatives while also returning capital to shareholders," said Lior Shemesh, Wix CFO.