Universal shares bounce by 6% on share buybacks

Shares in Florida carrier Universal climbed by 5.8 percent today
(14 June) in early trading after the company made well-received
announcements on capital management.
The stock had climbed almost 6 percent to $19.54 by 16:31
GMT.
The company announced yesterday that a new $20mn share
repurchase programme had been approved.
The new allowance follows the completion of the share repurchase
programme Universal launched on 19 November 2015, which saw 527,107
common shares bought back at an average pri