Clearfield Announces Increase to Share Repurchase Program
09 Noviembre 2023 - 3:05PM
Clearfield, Inc.
(NASDAQ: CLFD), the leader in
community broadband fiber connectivity, today announced that its
Board of Directors has authorized an increase to the company’s
common stock share repurchase program from $22 million to $40
million.
Cheri Beranek, Chief Executive Officer and President, said, “We
are announcing that our Board of Directors has increased our share
buyback authorization from $22 million to $40 million, leaving
approximately $33 million available for repurchases. This strategic
move reflects the Board’s strong conviction that our current share
price is undervalued relative to our long-term opportunity. This
increase in our buyback authorization is a clear and proactive
commitment on our part as we believe in the enduring strength and
potential of our company.”
Under the program, Clearfield may purchase shares of common
stock from time to time through open market and privately
negotiated transactions, through block trades, and pursuant to any
trading plan that may be adopted in accordance with Rule 10b5-1 of
the Securities Exchange Act of 1934. Repurchases of common stock
will be made in accordance with Rule 10b-18 of the Securities
Exchange Act of 1934 at prices depending on prevailing market
conditions.
The program does not obligate Clearfield to repurchase any
particular amount of common stock during any period. The repurchase
will be funded by cash on hand. The repurchase program is expected
to continue indefinitely until the maximum dollar amount of shares
has been repurchased or until the repurchase program is earlier
modified, suspended or terminated by the Board of Directors.
About Clearfield,
Inc.
Clearfield, Inc. (NASDAQ: CLFD) designs, manufactures, and
distributes fiber optic management, protection, and delivery
products for communications networks. Our “fiber to anywhere”
platform serves the unique requirements of leading incumbent local
exchange carriers (traditional carriers), competitive local
exchange carriers (alternative carriers), and MSO/Cable TV
companies, while also catering to the broadband needs of the
utility/municipality, enterprise, data center, and military
markets. Headquartered in Minneapolis, MN, Clearfield deploys more
than a million fiber ports each year. For more information, visit
www.SeeClearfield.com.
Investor Relations Contact:Greg
McNiffThe Blueshirt
Group773-485-7191clearfield@blueshirtgroup.com
Clearfield (NASDAQ:CLFD)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Clearfield (NASDAQ:CLFD)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024