Coty Inc.’s Board of Directors has approved an additional $200 million share repurchase authorization of its Class A common stock.

With this authorization and the $100 million remaining under the already existing stock repurchase authorization, the company’s total current share repurchase authorization is $300 million.

Patrice de Talhouet, Coty CFO, commented:

“Our focus has remained on returning capital to our shareholders through share repurchases and dividends while continuing to invest in our business. Our strong financial position and operating cash flow enabled us to increase the size of our share repurchase program. Today’s announcement builds upon our continuing commitment to our shareholders.”