Update: StoneCo Shares Rise After Company Launches $343.9 Million Share Buyback Plan

MT Newswires Live

2024/11/23

(Updates with the latest stock movement in the first paragraph and headline.)

StoneCo (STNE) shares were up nearly 11% in recent Friday trading after the financial services and technology provider said late Thursday it's board authorized the repurchase of up to 2 billion Brazilian reais ($343.9 million) in Class A common shares.

The buyback program has no expiration date.

The new authorization replaces a previous share repurchase program launched about a year ago in which the company bought back 13.2 million shares for $178.3 million, the company said.

Price: 10.28, Change: +1.01, Percent Change: +10.84

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