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What does stock repurchase program mean?

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stock repurchase program
Noun
AE


A program undertaken by closed-end funds as part of an ongoing effort to enhance stockholder value and attempt to reduce the discount at which a fund's shares trade to net asset value by purchasing outstanding fund shares in the open market.

Synonym(s): 
  • share repurchase program.
  • [BE]: share repurchase programme
    .
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