Shares of entertainment technology company IMAX Corporation (IMAX) are rising more than 4% Wednesday morning after the company announced $200 million increase in its share buyback program, bringing it to $400 million.
The company is now authorized to buy back shares of up to $225.0 million approximately, which includes about $25 million remaining from the initial authorization in 2017, through June 30, 2023, the company said.
IMAX, currently at $15.17, has traded in the range of $14.00-$22.10 in the past 1 year.
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