Berkshire Hathaways shares rose nearly 7% to $38.85 per share in early trading Wednesday after the U.S. stock market closed Thursday on the back of strong quarterly results and a new round of executive pay increases.

The company reported quarterly revenue of $9.1 billion for the three months ended Sept. 30, down from $9 billion for all of 2016.

The company reported earnings of $1.13 per share on revenue of just under $19 billion.

Berkshire Hathway said it plans to use the cash from the stock buyback to invest in its U.K. and international businesses.

It also said it expects to spend $1 billion in 2019 on an expansion of its global research and development capabilities.

Shares of the company rose nearly 8% in after-hours trading, trading above $39.

The Dow Jones Industrial Average gained 20.75 points, or 0.5%, to 19,081.94.

The stock rose 7% in New York, and 3% in Chicago.

The S&P 500 rose 1.4%, while the Nasdaq composite rose 1%.

The company’s board approved the $1 trillion buyback, which the company said it will use to invest $1bn in research and develop programs, as well as to invest up to $500 million in its international operations.

The $1,500 million buyback is the largest ever by the Berkshire Hathay board, and it is expected to bring in $300 million in annual cash flow by the end of 2019.

Berkshire Hathaway also said that its board of directors has approved an additional $200 million in dividends for 2019 and 2020.

The fund was set to receive $500 billion in cash from shareholders as of mid-September.

The fund will be able to sell the proceeds if the company is unable to make further payments to shareholders.

The shares of the firm were up 5% in the past week, as investors continue to focus on earnings and earnings-related news.

Shares rose 6% to close at $40.75.

The Nasdaq Composite Index gained 2.4%.