Chegg's board OKs $500 million share buyback
Chegg Inc. said late Tuesday its board of directors has authorized the buy back of up to $500 million in shares through the open market, block trades, and private transactions. The education technology and student services company said it expects to fund the repurchase program from its existing cash balance and future cash flows from operations, it said, without providing figures or estimates. Shares of Chegg rose 2% in the extended session after ending the regular trading session up 1.7%.
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