Benzinga | Dec 20, 2021 07:57AM EST

Dingdong Adopts $30M Share Buyback Program

* Dingdong (Cayman) Ltd (NYSE:DDL) Board of Directors has authorized a share repurchase program of up to $30.0 million of its shares over a period until December 19, 2022.

* The proposed repurchases may be made from time to time on the open market at prevailing market prices.

* The company's Board will review the share repurchase program periodically and may authorize adjustment of its terms and size.

* Dingdong held $1.06 billion in cash and equivalents as of September 30, 2021.

* Price Action: DDL shares closed lower by 0.15% at $13.48 on Friday.