odp corp the owner of office depot stores said its board of directors during the fourth quarter approved a new 1 billion share repurchase authorization available through the end of 2025 it replaces the companys prior 600 million repurchase authorization the boca raton flabased company said it would choose the number of shares to be repurchased depending on factors including market conditions and regulatory requirements the buyback can be suspended or discontinued at any time the company decides odp said odp repurchased 64 million shares for 266 million in fiscal 2022 the buyback included the repurchase of more than 45 million shares for 197 million in the fourth quarter shares were flat at 4528 in early wednesday trading the stock rose 617 over the last 12 months