Voya Financial increases stock buyback authorization by $800M
Voya announced that its board of directors has increased the amount of the company's common stock authorized for repurchase under the company's share repurchase program by an additional $800M. Under its share repurchase program, the company may, from time to time, purchase shares of its common stock through various means, including open market transactions, privately negotiated transactions, forward, derivative, accelerated repurchase, or automatic repurchase transactions, or tender offers. The additional $800M share repurchase authorization expires on Dec. 31, 2020 (unless extended), and does not obligate the company to purchase any shares. The authorization for the share repurchase program may be terminated, increased or decreased by the board of directors at any time. With the new repurchase authorization, Voya has approximately $850M remaining under its share repurchase authorizations.