CHICAGO (AP) -- Wireless carrier United States Cellular Corp. said Tuesday its board has approved a new program to buy back up to 1.3 million shares per calendar year.

As of Sept. 30, the company had about 53.7 million common shares outstanding, according to a regulatory filing. It also had about 33 million Series A common shares outstanding.

Shares rose 7 cents to $38.87 in afternoon trading.