06:20 AM EDT, 08/06/2024 (MT Newswires) -- New Oriental Education & Technology Group ( EDU ) said Tuesday its board has approved to increase its share repurchase program to $700 million from $400 million.

The program has also been extended by two years through May 31, 2025.

The company said it has so far repurchased about $330.3 million of its American depositary shares under the program.

Shares of the company rose more than 2% in recent trading activity.

Price: 67.19, Change: +1.92, Percent Change: +2.94