Monotype Imaging (TYPE) Approves $25M Stock Buyback Plan
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Monotype (Nasdaq: TYPE) announced that its board of directors has authorized the Company to implement a stock repurchase plan up to $25 million of outstanding shares of common stock through the end of 2017.
Purchases may be made in the open market, structured repurchase programs, or in privately negotiated transactions, subject to availability. The share repurchase program does not obligate Monotype to acquire any particular amount of common stock, and the program may be suspended or discontinued at any time.
“Our executive team and board of directors are confident in Monotype’s long-term strategy and growth potential, and we believe this stock repurchase program reinforces our commitment to delivering both short- and long-term shareholder value,”said Scott Landers, president and CEO of Monotype. “We don’t believe our current stock price reflects the value of our business today and feel the combination of our financial position, market expertise and strategic investments will allow us to create greater shareholder value in the quarters ahead.”
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