Powerfleet board approves $30M stock repurchase program

Powerfleet, Inc. (Nasdaq: AIOT; JSE: PWR) announced that its board of directors has approved a stock repurchase program authorizing the company to buy back up to $30 million of its common stock over the next 24 months.

According to a press release, the timing, manner, price, and amount of any repurchases will depend on market conditions, applicable legal requirements, and the company's financial condition and capital allocation priorities.

The program does not obligate Powerfleet to repurchase any specific number of shares or any shares at all, and may be modified, suspended, or discontinued at any time. The company is headquartered in Woodcliff Lake, N.J.

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