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Virtu Financial board expands buyback plan

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Virtu Financial board expands buyback plan

The board of Virtu Financial Inc. expanded the company's previously announced share repurchase program for class A common stock and common units by increasing the total authorized amount to $100 million from $50 million and extending the program duration through Sept. 30, 2019.

Since the commencement of the program in February, the company has repurchased about 1.38 million shares and units for approximately $40.5 million.

Under the plan, the company now has about $59.5 million remaining capacity for future purchases of common stock and common units.

Additionally, the company reported second-quarter net income of $46.6 million, or 24 cents per share, as compared to net income of $4.4 million, or 1 cent per share, in the year-ago quarter.