Shares in Herbalife Ltd. gained nearly 4 percent Wednesday after the supplement retailer said its board approved a $150 million increase to the company’s share repurchase program.
The boost raises the total authorized value of the buyback program to $600 million.
So far, Herbalife, of Los Angeles, has repurchased 11 million shares for about $450 million.
As of the end of April, Herbalife had 65.1 million shares outstanding.
Shares in Herbalife were up3.4 percent to $40.32 in early trading Wednesday.