ePlus Announces New Stock Repurchase Program
ePlus has announced a new stock repurchase program, allowing the company to buy back up to 1,000,000 shares of its common stock over a period of 12 months starting May 28, 2023. This program follows the expiration of the current plan on May 27, 2023, with ePlus having approximately 26.9 million shares outstanding as of April 3, 2023. The repurchased shares will be classified as treasury shares and utilized for general corporate purposes. Management retains discretion over the timing and amount of repurchases, dependent on stock price and availability.
- Authorization to repurchase up to 1,000,000 shares may enhance shareholder value.
- The repurchase plan indicates management's confidence in the company's financial health.
- None.
HERNDON, Va., April 5, 2023 /PRNewswire/ -- ePlus inc. (NASDAQ NQGS: PLUS – news) today announced that its board of directors has authorized the Company to repurchase up to 1,000,000 shares of ePlus' outstanding common stock over a 12-month period commencing May 28, 2023. The Company's current repurchase plan will expire on May 27, 2023. ePlus had approximately 26.9 million shares of common stock outstanding as of April 3, 2023.
The purchases may be made from time to time in the open market, or in privately negotiated transactions, subject to availability. Any repurchased shares will have the status of treasury shares and may be used, if and when needed, for general corporate purposes. ePlus has no obligation to repurchase shares under the authorization, and the timing, actual number and value of the shares which are repurchased will be at the discretion of management and will depend on a number of factors, including the price of the Company's common stock. The Company may suspend or discontinue repurchases at any time.
About ePlus inc.
ePlus has an unwavering and relentless focus on leveraging technology to create inspired and transformative business outcomes for its customers. Offering a robust portfolio of solutions, as well as a broad range of consultative and managed services across the technology spectrum, ePlus has proudly achieved more than 30 years of success in the business, carrying customers forward through adversity, rapidly changing environments, and other obstacles. ePlus is a trusted advisor, bringing expertise, credentials, talent and a thorough understanding of innovative technologies, spanning security, cloud, data center, networking, collaboration and emerging solutions, to organizations across all industry segments. With complete lifecycle management services and flexible payment solutions, ePlus' more than 1,700 associates are focused on cultivating positive customer experiences and are dedicated to their craft, harnessing new knowledge while applying decades of proven experience. ePlus is headquartered in Virginia, with offices in the United States, UK, Europe, and Asia–Pacific. For more information, visit www.eplus.com, call 888-482-1122, or email info@eplus.com. Connect with ePlus on LinkedIn, Twitter, Facebook, and Instagram. ePlus, Where Technology Means More®.
ePlus®, Where Technology Means More®, and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries.
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SOURCE ePlus inc.
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