Adobe System's Board OKs $2.5B Share Buyback Program

Adobe Systems Inc. said late Tuesday its board of directors has approved a $2.5 billion share buyback program through the end of fiscal 2019. The new program is similar to the company's previous program authorizing the repurchase of up to $2 billion in common stock through fiscal year 2017, which will soon be exhausted, the company said in a statement. Shares of Adobe were flat in late trading after ending the regular session down 0.5%.