WINSTON-SALEM, N.C. - BB&T Corp.'s board approved on Wednesday the repurchase of up to 40 million common shares and terminated an earlier buyback plan. <br>
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The bank holding company said the previous October 2000 plan authorized BB&T to buy back up to 20 million common shares, of which 14.8 million were repurchased. <br>
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The company said the shares could be used in a variety of ways, including for acquisitions. <br>
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BB&T has about 456 million shares outstanding. <br>
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BB&T shares traded Wednesday afternoon at $36.98, up 14 cents, or 0.4 percent. In the past 12 months the company earned $973.64 million on assets of $68.04 billion. <br>
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