Investing.com -- BMW (ETR: BMWG ), the German luxury car manufacturer, has revealed plans for a new share buyback program. This initiative, the company’s third, has a maximum volume of 2 billion euros, or about $2.25 billion, and is set to commence within this month.

The program covers both ordinary and preferred shares. However, the volume of preferred shares is capped at 350 million euros, according to the company’s statement on Tuesday.

The buyback program is scheduled to conclude no later than April 30, 2027. BMW has promised to release more details about the program prior to and during its implementation.

The announcement follows a 1.29% increase in the company’s stock.

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