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Facebook plans to spend $ 9 billion on repurchase of shares

Facebook Inc. FB, -1.58% has released another $ 9 billion for repurchase of shares and added $ 15 billion that…

Facebook Inc.

FB, -1.58%

has released another $ 9 billion for repurchase of shares and added $ 15 billion that had previously authorized to buy back its own share. According to a submission by the Securities and Exchange Commission, the Social Media Agency’s Board approved the increased amount on Thursday and allowed a program that began in 2017. Repurchase of shares has been a popular way for companies to spend extra profits from tax credits made earlier this year and Goldman Sachs has predicted repurchases will hit 1

trillion dollars this year. The Facebook share has fought in 2018 in the midst of controversy, with stocks declined 22.1% so far this year as the S & P 500 index

SPX, -2.33%

has gained 0.8%.

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