Spotify Technology S.A. announced that its Board of Directors has approved an increase in its share repurchase program by an additional $1.5 billion. With $723 million remaining under the current repurchase program, 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, including by renewal. The timing and actual number of shares repurchased will depend on a variety of factors, including the renewal of repurchase authorization by shareholders, price, general business and market conditions, and alternative investment opportunities. The repurchase program does not obligate the Company to acquire any particular amount of ordinary shares, and the repurchase program may be suspended or discontinued at any time at the Company's discretion.
Spotify Technology SASpotify increases share repurchase program by $1.5 billion, signaling confidence and returning capital to shareholders.
