Schmitt Industries Announces $2M Stock Repurchase Plan
December 03 2019 - 4:00PM
Schmitt Industries, Inc. (NASDAQ: SMIT) (the “Company” or
“Schmitt”) today announced that its Board of Directors authorized a
share repurchase plan (the “Plan”) to buy up to $2 million of its
common stock. Schmitt intends to purchase shares from time to time
through open market and private transactions in accordance with
Securities and Exchange Commission rules. The Plan is authorized
through December 16, 2020.
There is no guarantee as to the exact number of, or value of,
shares that will be repurchased by Schmitt and the Company may
discontinue repurchases at any time. The timing and amount of share
repurchases under the Plan will depend on a number of factors,
including Schmitt’s stock price performance, ongoing capital
planning considerations, general market conditions, and applicable
legal requirements.
About Schmitt Industries
Schmitt Industries, Inc., founded in 1987, designs, manufactures
and sells high precision test and measurement products, solutions
and services through its Acuity® and Xact® product lines.
Contact:Schmitt Industries, Inc.Michael R.
ZapataChief Executive Officer (503) 227-7908
Schmitt Industries (NASDAQ:SMIT)
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