Citigroup raises share buyback program by up to $1.75 billion

November 21, 2016 8:06 AM EST

A view of the exterior of the Citibank corporate headquarters in New York, New York, U.S. May 20, 2015. REUTERS/Mike Segar/Files

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(Reuters) - Citigroup Inc (NYSE: C) said on Monday that it would increase its common stock repurchase program by up to $1.75 billion.

The amount is in addition to the $10.4 billion in planned capital actions announced earlier this year, Citigroup said in a statement.

Citigroup sad it had reduced the number of its outstanding common shares by 180 million, or 6 percent, in the past two years.

The company's shares were up 0.7 percent in premarket trading.

(Reporting by Richa Naidu in Bengaluru; Editing by Savio D'Souza)

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