Sanderson Farms has extended its stock repurchase program to 1m shares.

The US poultry group said today (23 October) that it increased the repurchase plan from its previous level of 225,000 shares, which was announced in April last year.

Shares may be purchased from "time to time" at prevailing prices in open market transactions or in negotiated purchases, subject to market conditions, share price and other considerations, Sanderson said.

Sanderson Farms has approximately 20.3m shares of common stock outstanding.