Shareholders of SES Global approved a motion to cancel 50.1 million of the company’s shares that were repurchased, SES announced Dec. 8. SES acquired 77 percent of its shares for 517.4 million euros ($612.08 million) under a plan authorized in May.

Shareholders also approved a new buyback program of up to 10 percent of the company’s outstanding stock at price range of 9.75 euros ($11.53) to 16.75 euros ($19.81). SES shares still available on the Euronext Paris and the Luxembourg Stock Exchange represent 46 percent of the company’s voting rights.

“These share buyback programs, combined with our progressive dividend policy, are in line with our strategy of providing cash returns to shareholders while maintaining the required financial headroom to pursue growth opportunities.” Romain Bausch, president and CEO of SES Global, said in a statement.