Blackberry to repurchase 12 million shares to offset dilution from employee stock

BlackBerry Ltd. plans to repurchase up to 12 million shares of common stock at prevailing market prices to offset dilution from employee stock plans and equity incentive plans.


The company said it has about 529.5 million shares of common stock outstanding or about 464.7 million shares in the hands of public investors. The buyback represents about 2.5 percent of the publicly held shares.


The buyback program will run from Monday through June 28, 2016.

Shares of the Canadian mobile communications company rose 2 cents to $8.85 in premarket trading. Over the past year, the stock has traded between $8.59 and $12.63.

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