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Dolby Lab's board approves stock buyback program
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SAN FRANCISCO - Dolby Laboratories Inc.'s board of directors on Tuesday approved a stock repurchase program of up to $250 million common stock.
The company said the purpose of the buyback was to offset dilution of the company's equity compensation programs.
Shares added 63 cents to $44.81 in after-hours trading, after adding $1.73, or 4.1 percent, to close at $44.18.
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