repurchase

TKO said it will have a share repurchase program of up to $2 billion on its Class A common stock and a $75-million quarterly cash dividend program.

Over the next two years, U.S. companies spent a record $1.3 trillion repurchasing and retiring their own stock, a 50% jump from the prior two years.

These so-called repurchases allow companies to “retire” shares, or take them off the market, a way to make up for new shares created for top executives to boost their pay packages.

It plans to repurchase more than $20 billion in shares in the first three years.

With no major acquisitions in sight, Berkshire’s cash pile climbed to a record $188.993 billion even after it spent $2.6 billion repurchasing shares during the first three months of the year.