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Thomson Reuters unveils second $1 billion shares buyback

Thomson Reuters said it plans to repurchase up to an additional $1 billion of its shares by the end of next year.

The company said it had substantially completed a previous $1 billion stock buyback programme unveiled last July and due for completion by the end of this year.

It said decisions regarding any future repurchases would be based on market conditions, share price and other factors, including opportunities to invest capital for growth.

Last month, Thomson Reuters reported that its first-quarter revenue fell three per cent due to the effects of the stronger dollar. Excluding currency impacts, revenue would have risen two per cent in the quarter.

Thomson Reuters shares traded lower after Wednesday’s announcement - down 0.65 per cent to $40.53 on the New York Stock Exchange and down 0.91 per cent to C$48.80 on the Toronto Stock Exchange. ■

Thomson Reuters