WEX Inc. (WEX), a provider of commerce-related services, announced on Monday that it has received authorization to repurchase an additional $1 billion worth of its shares.
This new authorization increases the total repurchase capacity to $2.05 billion, effective through December 31, 2025.
Melissa Smith, Chair of WEX, stated: "Our robust balance sheet and cash-generative business model allow us to invest in growth opportunities while simultaneously returning capital to shareholders. This expanded repurchase authorization gives us further ability to return capital and unlock the value we see within our business."
