Hasbro Inc.'s board of directors approved a share repurchase program for an additional $500 million of the company's common stock.

The U.S. toymaker had $139.2 million of remaining shares in its current share repurchase authorization by the end of the first quarter.

In addition, the company declared a quarterly cash dividend of 63 cents per common share, which will be payable Aug. 15 to shareholders of record Aug. 1.

Hasbro also ratified the appointment of KPMG LLP as its independent auditor for fiscal year 2018.