03:28 AM EST, 11/22/2024 (MT Newswires) -- StoneCo ( STNE ) said late Thursday it has authorized the repurchase up to 2 billion Brazilian reais ($343.9 million) in outstanding class A common shares.

The buyback program has no expiration date.

The new authorization replaces a previous share repurchase program launched about a year ago in which the company bought back 13.2 million shares for $178.3 million, the company said.