Daktronics (DAKT) Announces $40M Stock Buyback Plan

Daktronics (NASDAQ: DAKT) announced that its Board of Directors authorized a stock buyback program under which it may repurchase up to $40 million of its outstanding common stock.

“The stock repurchase authorization allows us to be opportunistic in acquiring stock to use for future investments. We have a strong balance sheet and generate free cash flow to support our share repurchase plans.” said Reece A. Kurtenbach, Chairman, President and Chief Executive Officer. "We are pleased to add the share buyback program to continue to return value to shareholders in conjunction with the regular quarterly dividends and continued investments into business opportunities."

Shares may be repurchased from time to time in open market purchases, private transactions or other transactions. The timing, volume and nature of share repurchases will be at the sole discretion of management and will be dependent on market conditions, applicable securities laws and other factors, and may be suspended or discontinued at any time. Under the stock repurchase program, Daktronics may repurchase shares in open-market purchases in accordance with all applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. No assurance can be given that any particular amount of common stock will be repurchased.

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