SBA Communications Corp. has authorized a $1 billion
stock-repurchase plan, after completing its prior $300 million
stock buyback plan last month.
According to the Boca Raton, Fla.-based wireless communications
company, the new plan has no deadline and shouldn't change the
company's Ebitda targets. Purchased shares will be retired.
Under its old plan, SBA had purchased 1.305 million shares,
about 1% of shares outstanding.
Shares of SBA, inactive premarket, have been up about 3% this
year through Wednesday's close.
Write to Angela Chen at angela.chen@dowjones.com
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