InfuSystem to repurchase up to $20 million in stock
By HME News Staff
Updated 9:38 AM CDT, Wed May 22, 2024
ROCHESTER HILLS, Mich. – InfuSystem Holdings has announced a stock repurchase program authorizing the company to repurchase up to $20 million of its outstanding common stock through June 30, 2026. The program supersedes the previous authorization, which was set to expire June 30, 2024. Under the previous authorization, InfuSystem repurchased approximately 550,000 shares of stock for approximately $6.2 million. “This authorization will continue the company’s long-standing buyback policy and reauthorizes the programs that we have used when appropriate to enhance shareholder value,” said Richard DiIorio, CEO. “I believe the stock repurchase program highlights confidence in the company’s continued solid operations, the strength of our balance sheet and our outlook and guidance for the rest of 2024 and beyond. Our top priority for use of capital remains making strategic investments that position the Company for sustainable growth, although this program provides us with the flexibility to be opportunistic in repurchasing shares when valuations become attractive.” Repurchases will be made through open market purchases, private transactions, or otherwise in accordance with applicable federal securities laws.
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