PCTEL to buy back up to $5 million of its shares
BLOOMINGDALE -- PCTEL Inc. said its board of directors has authorized a share repurchase program of up to $5 million of its common stock through the end of 2021.
Share repurchases may be made from time to time at prevailing prices in the open market, the company said. Bloomingdale-based PCTEL is a global provider of wireless technology, including industrial communication devices, antenna systems, and test and measurement solutions.
"This repurchase program demonstrates the Board's confidence in our future and our commitment to returning value to shareholders," said David Neumann, PCTEL's chief executive officer. "Our strong cash flow and balance sheet enable us to simultaneously support a share repurchase program and pay regular quarterly dividends, while continuing to deploy capital to drive organic and inorganic growth over the long term."