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Arconic board approves additional share buyback program of up to $500 million

Ciara Linnane

Arconic Inc. said Monday its board has approved an additional share buyback program of up to $500 million. The maker of aluminum parts for the aerospace and automotive sectors said the sum will be added to its existing program of $1 billion, of which just $100 million remains available through 2020. Shares were not active premarket, but have gained 21%% in the last 12 months, while the S&P 500 has gained 5.4%.