Anterix has authorized a new $250 million three-year share repurchase program, which helped its stock price recover after drifting lower last week.
The wireless broadband provider announced the share repurchase program on Friday, building on its previous program under which about $34 million of Anterix’s stock has been repurchased.
The company said the repurchases could be made in a variety of ways, including open market purchases, privately negotiated transactions, and under Rule 10b5-1 trading plans at such times and in such amounts management deems appropriate.
After trailing lower over the course of last week, Anterix shares spiked on Friday on the news of the buyback, closing up 12.2% at US$33.32.
At Monday morning’s open, the stock traded at US$33.14, which is flat week-over-week.
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