DHI Group Announces Additional $12 Million Authorization Under Stock Repurchase Program

Rhea-AI Summary

DHI Group, Inc. (NYSE: DHX) announced a significant expansion of its stock buyback program, now totaling $20 million. Authorized by the Board of Directors, this includes an additional $12 million, following a prior $8 million authorization in February 2021, with around $1.3 million already utilized. The program aims to enhance shareholder value and reflects confidence in the company's future. Repurchases may commence or cease based on market conditions and will be effective until June 2022.

Positive

• Share buyback program increased to $20 million, enhancing shareholder value.
• Demonstrates confidence in the company's future prospects.
• Management has discretion to optimize buyback timing and conditions.

Negative

• None.

CENTENNIAL, Colo., June 23, 2021 /PRNewswire/ -- DHI Group, Inc. (NYSE: DHX) today announced that its Board of Directors has authorized a stock repurchase program that permits the additional purchase of up to $12 million of the Company's common stock, increasing the overall share buyback program to $20 million.  In February 2021, the Board of Directors authorized the purchase of $8 million of its common stock and, under the plan, the Company has purchased approximately $1.3 million of its stock to date. With this additional authorization, the Company now has $18.7 million of buyback capacity.

This new authorization is currently effective and will be in effect through June 2022. Under the plan, management has discretion in determining the conditions under which shares may be purchased from time to time, including block trades.

"The stock buyback program is further recognition of the bright future prospects of the business and the undervalued price of our stock," said Kevin Bostick, Chief Financial Officer of DHI Group, Inc. "We will continue to balance investing in the business with buying back shares."

Repurchases will be made in accordance with applicable securities laws in the open market, in privately negotiated transactions or through other means. Depending on acquisition opportunities, market conditions and other factors, these repurchases may commence or cease from time to time without prior notice.

Investor Contact       
MKR Investor Relations 
212-448-4181   
ir@dhigroupinc.com

Media Contact       
Rachel Ceccarelli 
VP of Engagement 
212-448-8288 
media@dhigroupinc.com

About DHI Group, Inc.
DHI Group, Inc. (NYSE: DHX) is a provider of software products, online tools and services to deliver career marketplaces to candidates and employers globally. DHI's three brands -- Dice, ClearanceJobs and eFinancialCareers — enable recruiters and hiring managers to efficiently search, match and connect with highly skilled technologists in specialized fields, particularly technology, those with active government security clearances and in financial services. Professionals find ideal employment opportunities, relevant job advice and personalized data to best manage their whole technologist life. For 30 years, we have leveraged the latest technology to foster career connections in multiple markets including North America, Europe, the Middle East and the Asia Pacific region. Find out more at www.dhigroupinc.com.

 

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SOURCE DHI Group, Inc.

FAQ

What is the total amount authorized for DHI Group's stock buyback program?

DHI Group's stock buyback program has been expanded to a total of $20 million.

When does the stock buyback program for DHI Group expire?

The stock buyback program is effective until June 2022.

How much stock has DHI Group purchased under the buyback program so far?

DHI Group has purchased approximately $1.3 million of its stock to date.

What was the initial authorization amount for DHI Group's stock buyback in February 2021?

The initial stock buyback authorization in February 2021 was $8 million.

What does the increase in the stock buyback program signify for investors?

The increase signifies a recognition of the undervalued stock price and aims to enhance shareholder value.