UPS board approves $2 billion stock buyback

NEW YORK, Oct 30 (Reuters) - The board of United Parcel Service INC (UPS.N) has approved an increase in the company's share repurchase program, UPS said on Tuesday.

The board authorized UPS to purchase up to $2 billion in common stock, replacing the approximately $50 million that remained available under the February 2007 share repurchase authorization of $2.0 billion, UPS said in a regulatory filing.

(Reporting by Nick Zieminski, Reuters Messaging rm://nick.zieminski.reuters.com@reuters.net 1-646-223-6162)