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American Tower approves $2B stock repurchase program

American Tower Corp.'s board approved a repurchase program for up to $2.00 billion of its common stock.

The company has about $345.0 million remaining under its existing repurchase program, which was approved in March 2011.

American Tower also declared a quarterly cash distribution of 70 cents per share. The sum is payable Jan. 16, 2018, to stockholders of record as of Dec. 28.