Relm Buys Back Stock for Engineering, Sales Expansion
Thursday, June 15, 2017 | Comments

The Relm Wireless board of directors approved the repurchase of 500,000 shares of the company's common stock in addition to the 500,000-share authorization announced May 19, 2016, for a total repurchase authorization of 1 million shares. The repurchase program has no termination date.

The company also is deploying capital back into the business to expand its engineering capabilities and sales force. The investment in engineering is expected to further position the company with the highest quality and innovative products in the marketplace. The investment in the sales force is expected to position Relm for higher sales and profitability during the next few years.

In conjunction with the increase in the stock repurchase authorization, the board declared a quarterly dividend of 2 cents per share of the company's common stock, payable July 17 to shareholders of record of the company's common stock as of the close of business June 30.

"We believe the board has chosen the proper mix of a sustainable level of cash dividends from which we can grow, a larger buyback program that will repurchase shares at what we believe are very attractive valuations and reinvestment in the business so that we can position Relm for higher revenue and profitability in the future,” said Kyle Cerminara, chairman of the board.

Would you like to comment on this story? Find our comments system below.



 
 
Post a comment
Name: *
Email: *
Title: *
Comment: *
 

Comments

No Comments Submitted Yet

Be the first by using the form above to submit a comment!

Site Navigation

Close