Zedge (ZDGE) has expanded its Class B share repurchase program by $2 million, the company said Monday.

The additional authorization increases the company's total buyback program to $7 million from $5 million, it said.

As of June 4, Zedge had repurchased nearly 1.5 million shares for about $4.8 million under the previously authorized program.

The company also declared a quarterly dividend of $0.02 per Class B share, payable June 30 to shareholders of record on June 22.