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Ford higher on share buyback plan

 (Image source: 4wheelsnews.com)

Shares of the automaker Ford Motor Company (NYSE:F) are higher today after the company’s board approved a $1.8 billion share buyback plan. The share buybacks are an attempt to head-off potential dilution effects of senior convertible notes and share-based compensation. According to the CFO, the share buyback move announced today will reduce diluted shares by 3 percent.