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Universal Display approves $50M share repurchase program

Universal Display announced that its board has approved a program to repurchase up to $50M of the company's outstanding shares of common stock from time to time over the next twelve months. The stock repurchase program will be funded using the company's working capital. As of September 30, the company had cash, cash equivalents and marketable securities of approximately $239M. As of November 2, the company had approximately 46.51 shares of common stock outstanding.