Universal Display Corporation (NASDAQ:OLED), a global leader in energy-efficient OLED technologies and materials, announced today that its Board of Directors has authorized a new share repurchase program of up to $400 million of the Company's common stock. This authorization is incremental to the $100 million share repurchase program approved in April 2025, which was fully utilized through the first quarter of 2026. In addition, the Board declared a second quarter cash dividend of $0.50 per share on the Company's common stock.