Ally Financial Inc. (ALLY), a digital financial services company, on Wednesday said its board has authorized a new multi-year share repurchase program of up to $2 billion with no specified expiration date.
The company said repurchases may commence this quarter.
CEO Michael Rhodes said the authorization reflects strong business momentum and confidence in the company's outlook.
In the pre-market trading, Ally Financial is 2.93% higher at $43.58 on the New York Stock Exchange.
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