Hilton To Buy Back Addl. $3.5 Bln Shares

(RTTNews) - Hilton Worldwide Holdings Inc. (HLT) Thursday said its Board of Directors authorized the repurchase of an additional $3.5 billion of common stock under its existing stock repurchase program. This brings the total amount currently authorized for future repurchases to around $4.8 billion.

Hilton said it may purchase shares in the open market, in privately negotiated transactions or in such other manner as determined by the firm.

According to the hospitality firm, the amount and timing of any repurchases made under the stock repurchase program will depend on a variety of factors, including available liquidity, cash flow and market conditions.