By Stephen Nakrosis
Otis Worldwide's board approved a $2 billion share repurchase program to buy back the company's common stock.
The company said Thursday it cancelled about $100 million remaining from a prior program, which had been approved in December 2022.
The elevator and escalator designer and manufacturer has a market cap of $36.85 billion, with 399.46 million shares outstanding and a public float of 399.02 million shares.
In after-hours trading the stock rose 1.8% to $94.89, and ended the market session up 1% at $93.20.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 16, 2025 16:46 ET (21:46 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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