11:47 AM EDT, 03/13/2024 (MT Newswires) -- (Adds stock price movement in first and fifth paragraphs)

Full Truck Alliance ( YMM ) was surging Wednesday after the digital freight company said it was extending a $300 million stock buyback program of its American depository shares through March 12, 2025.

The buyback plan was set to expire last Tuesday. Each ADS represents 20 class A ordinary shares and/or ordinary shares.

Repurchases may be made through open market transactions, privately negotiated transactions, block trades, or through other means.

The company also declared an annual cash dividend of $0.1444 per ADS, payable around April 19 to shareholders of record on April 5.

Full Truck Alliance ADS recently were more than 11% higher, staying within close range of its intra-day high.

Price: 7.75, Change: +0.78, Percent Change: +11.28