During the pre-market session, Full Truck Alliance Co. Ltd. (NYSE: YMM) saw a noteworthy increase of 10.78% to $7.71, demonstrating remarkable gain on the US stock market. The stock of Full Truck Alliance witnessed a 3.57% gain to close at $6.96 during the previous session, and this upward trend is continuing that good momentum. An expansion of YMM’s equity move is responsible for the stock’s recent increase in value.

Full Truck Alliance (YMM) has declared that its share repurchase program, which was earlier approved by the board of directors, will remain in effect until March 12, 2024. The program will now run until March 12, 2025, according to the board’s decision, allowing for the buyback of up to $300 million worth of the company’s American depositary shares (ADSs). Twenty Class A ordinary shares and/or ordinary shares are represented by these ADSs.

Depending on market conditions and regulatory requirements, Full Truck Alliance may carry out share repurchases through a variety of channels, such as block trades, privately negotiated transactions, open market transactions at prevailing prices, or other legally permissible methods. As long as the share repurchase program complies with applicable laws and regulations, the FTA board may modify its terms and scope, suspend it altogether, or both. Full Truck Alliance plans to use its current cash balance to finance these repurchases.

The board is upbeat about YMM’s future prospects after evaluating the company’s operating performance, business expansion plan, capital requirements, and cash situation. As a result, the YMM board decided to pay an annual cash dividend of $0.0072 per common share or $0.1444 per ADS on March 13, 2024, for the fiscal year that concluded on December 31, 2023. Approximately $150 million will be distributed as a dividend to shareholders who were registered as of April 5, 2024, on or around April 19, 2024.

With Deutsche Bank Trust business Americas acting as the depositary, the business intends to pay cash dividends to ADS holders, contingent to the conditions of the deposit agreement and related costs and fees. With this action, Full Truck Alliance is demonstrating its dedication to rewarding its shareholders and preserving a sound financial position in anticipation of future expansion and improvement.