Sirius XM has added an additional $2 billion to its stock repurchase program. SiriusXM's Board of Directors approved a $2 billion stock repurchase in December 2012 and supplemented that with an additional $2 billion in October 2013. The satellite radio provided will fund the $6 billion in repurchases through cash on hand, future cash flow from operations and future borrowings.
The announcement of the extension of the repurchase program reflects the Board's desire to continue to return value to stockholders and its confidence in the long-term growth prospects of the Company's business," the company said in a statement.
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