Wal-Mart Authorizes New $15 Billion Stock Buyback

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Wal-Mart Stores said on Friday its board approved a new $15 billion stock repurchase program, the first in two years.

Following the report, company's stock ticked higher in trade on Friday. (Click here to track Wal-Mart's shares.)

As of June 6, Wal-Mart, the world's largest retailer, had about $712 million remaining under a $15 billion program announced in June 2011.

The repurchase plan was announced by Chief Financial Officer Charles Holley at Wal-Mart's annual meeting. The company did not announce a repurchase program at the 2012 meeting. At that time it still had $9.7 billion remaining under the 2011 plan.