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NCLH authorizes $1bn share buyback program

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Norwegian Cruise Line Holdings' board authorized a three-year, $1bn share repurchase program.

The authorization 'reflects our ongoing confidence in our financial strength and the long-term outlook of our business,' said Frank Del Rio, president and CEO, NCLH. He added: 'Our strong and growing cash flow will allow us to deepen our commitment to provide returns to our shareholders, while continuing to invest in our product, innovation and growth.'

In a filing NCLH said it may buy back its ordinary shares from time to time, in amounts, at prices and at such times as it deems appropriate, subject to market conditions and other considerations.

The repurchases may be made in the open market, in privately negotiated transactions, in accelerated repurchase programs or in structured share repurchase programs.

NCLH shares were trading up almost 4%, at $55.82, shortly after market open Wednesday.