WEX Inc. (WEX), a commerce related service provider, said on Monday that it has been authorized to repurchase up to an additional $1 billion of shares.
The new authorization has raised the total authorization to $2.05 billion through December 31, 2025.
Melissa Smith, WEX's Chair, said: "Our strong balance sheet and highly cash generative business model enable us to invest in growth while also effectively returning capital to shareholders. This expanded authorization provides additional opportunity to return capital and unlock value that we believe is embedded in our business."
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