CTS Plans $100M Share Repurchase Program, Replacing Existing Program Authorized In February 2023
Portfolio Pulse from Benzinga Newsdesk
CTS announced a new share repurchase program authorizing the repurchase of up to $100 million of its common stock, replacing the existing program from February 2023. This new program has no scheduled termination date.

February 06, 2024 | 1:02 pm
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CTS has initiated a new share repurchase program for up to $100 million, replacing the earlier program from February 2023, with no fixed termination date.
Share repurchase programs are typically viewed positively by the market as they can increase earnings per share and indicate that the company believes its stock is undervalued. The replacement of the existing program with a new one without a set termination date may be seen as a strong commitment by CTS to return value to shareholders, potentially leading to a positive short-term impact on the stock price.
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IMPORTANCE 80
RELEVANCE 100