Alpha Pro Tech, Ltd. Announces $2M Expansion Of Existing Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
Alpha Pro Tech, Ltd. (APT) has announced a $2 million expansion of its share repurchase program, bringing the total available for repurchases to $2.7 million. The company plans to retire all shares bought under this program, with purchases to be made through open market or privately-negotiated transactions, in compliance with SEC rules.
April 03, 2024 | 3:30 pm
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APT has expanded its share repurchase program by $2 million, aiming to retire all repurchased shares, with a total of $2.7 million now allocated for this purpose.
Share repurchase programs typically signal a company's confidence in its own financial health and are often viewed positively by the market, as they can increase earnings per share and are generally seen as a method of returning value to shareholders. Given APT's commitment to retire all repurchased shares, this could reduce the total number of shares outstanding, potentially leading to a positive short-term impact on the stock price.
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