Methode Electronics (MEI) Board Authorizes $100 Million Share Buyback Program
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Methode Electronics, Inc. (NYSE: MEI), a global developer of custom engineered and application specific products and solutions, announced today that its board of directors has authorized a new share buyback program.
The board of directors authorized the purchase of up to $100 million of its outstanding common stock through March 31, 2023. Such purchases may be made on the open market, in private transactions or pursuant to purchase plans designed to comply with Rule 10b5-1 of the Securities Exchange Act of 1934. The share buyback program is subject to market conditions, general business conditions, cash balances, borrowing availability and other relevant factors. The program may be suspended or terminated at any time. No assurance can be given as to the time period over which the shares will be purchased or as to whether and to what extent the share purchases will be consummated.
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