BlackBerry plans stock buyback

WATERLOO, ONT. — BlackBerry Ltd. says it’s prepared to buy back and cancel up to 12 million of its common shares over the next year.

Based on the most recent closing price for BlackBerry shares, the buyback program would cost the company about $131.6 million.

However, the amount it actually pays will depend on the how many shares it buys and the prices paid on the Toronto or Nasdaq stock markets.