Standard Motor (SMP) Boosts Buyback by $5M
- U.S. Adds Jobs at Higher Clip in November, Unemployment Rate Falls to 7%
- Pre-Open Stock Movers 12/6: (ENZN) (GERN) (PSUN) Higher; (IOC) (ULTA) (PWRD) Lower (more...)
- Sears Holdings (SHLD) Files to Spin-Off Lands' End Unit
- Wow - Bitcoin 'is' the New Gold
- J.C. Penney (JCP) Discloses Letter from SEC on Liquidity, Cash, Debt and Stock Offering
Standard Motor Products, Inc. (NYSE: SMP), an automotive replacement parts manufacturer and distributor, today announced that its Board of Directors has authorized the purchase of up to an additional $5 million of its common stock under a stock repurchase program. This increase is in addition to the completed $5 million repurchase program authorized by the Board on August 25, 2011. Stock will be purchased from time to time, in the open market or through private transactions, as market conditions warrant. The Company intends to fund the stock repurchase program through its revolving credit facility. The stock repurchase program may be suspended or discontinued at any time. Any repurchased shares will be held as treasury stock and will be available for general corporate purposes, including funding existing equity compensation plans.
You May Also Be Interested In
- Icahn Seeks Non-Binding Apple (AAPL) Shareholder Vote on Increased Buyback
- McGraw Hill (MHFI) Approves New 50M Buyback Plan
- Zumiez, Inc. (ZUMZ) Misses Q3 EPS by 6c, Q4 Guidance Light, to Buyback $30M
Create E-mail Alert Related CategoriesStock Buybacks
Related EntitiesStock Buyback
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!