On May 16, 2024, the company announced an increase in its equity buyback plan. The company increased its authorization by an additional amount of $500 million, thereby increasing the total plan term monetary value authorization to $750 million. The increase will be effective from completion of current authorized amount is utilized and will be valid for 2 years after commencement.

On June 26, 2024, the company announces first tranche of it's increased buyback plan. Under the first tranche, the company will repurchase up to 8,000,000 shares for $200 million under 10b5-1 plan and up to 4,000,000 shares for $100 million under discretionary plan set up through the agreement with DNB Markets. The tranche will commences from today and will be valid till September 30, 2024.