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Jabil Circuit's

(JBL) - Get Jabil Inc. Report

board has approved $200 million in share repurchases over the next year, the company said Wednesday.

The company will purchase shares on the open market or in private transactions.

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Shares of the electronics manufacturing services company were up 3 cents to $24.25 in after-hours trading. During the regular session, Jabil fell 27 cents, or 1.1%, to $24.22.