Superior Group of Companies Announces New Stock Repurchase Plan
Superior Group of Companies (NASDAQ: SGC) has announced a new stock repurchase plan approved by its Board of Directors. The plan authorizes the company to repurchase up to $10 million of its common stock over a one-year period. This replaces the previous plan from May 2, 2019, which had allowed for the repurchase of up to 750,000 shares, of which 92,549 were purchased.
The new plan enables SGC to purchase stock through various methods, including open market purchases, privately negotiated transactions, and block purchases. The timing and number of shares repurchased will depend on factors such as stock price, availability, and market conditions. Repurchased shares may be reissued for employee benefit plans and other corporate purposes.
Superior Group of Companies (NASDAQ: SGC) ha annunciato un nuovo piano di riacquisto di azioni approvato dal suo Consiglio di Amministrazione. Il piano autorizza l'azienda a riacquistare fino a 10 milioni di dollari delle sue azioni ordinarie nell'arco di un anno. Questo sostituisce il precedente piano del 2 maggio 2019, che consentiva il riacquisto di fino a 750.000 azioni, di cui 92.549 sono state acquistate.
Il nuovo piano consente a SGC di acquistare azioni attraverso vari metodi, tra cui acquisti nel mercato aperto, transazioni private e acquisti in blocco. Il momento e il numero delle azioni riacquistate dipenderanno da fattori come il prezzo delle azioni, la disponibilità e le condizioni di mercato. Le azioni riacquistate possono essere riemesse per piani di benefici per i dipendenti e altri scopi aziendali.
Superior Group of Companies (NASDAQ: SGC) ha anunciado un nuevo plan de recompra de acciones aprobado por su Junta Directiva. El plan autoriza a la empresa a recomprar hasta 10 millones de dólares de sus acciones ordinarias durante un período de un año. Este reemplaza el plan anterior del 2 de mayo de 2019, que permitía la recompra de hasta 750,000 acciones, de las cuales se compraron 92,549.
El nuevo plan permite a SGC comprar acciones a través de varios métodos, incluyendo compras en el mercado abierto, transacciones negociadas en privado y compras en bloque. El momento y el número de acciones recompradas dependerán de factores como el precio de las acciones, la disponibilidad y las condiciones del mercado. Las acciones recompradas pueden volver a emitirse para planes de beneficios para empleados y otros fines corporativos.
슈페리어 그룹 컴퍼니스 (NASDAQ: SGC)는 이사회에서 승인한 새로운 자사주 매입 계획을 발표했습니다. 이 계획은 회사가 1년 동안 1천만 달러까지의 보통주를 매입할 수 있도록 허용합니다. 이 계획은 2019년 5월 2일의 이전 계획을 대체하며, 당시에는 최대 750,000주를 매입할 수 있었고, 그 중 92,549주가 매입되었습니다.
새로운 계획은 SGC가 공개 시장에서의 매입, 비공식 협상 거래 및 블록 매입 등 다양한 방법으로 주식을 매입할 수 있도록 합니다. 매입 시기와 매입될 주식의 수는 주가, 이용 가능성 및 시장 상황과 같은 요인에 따라 달라질 것입니다. 재매입된 주식은 직원 복리후생 계획 및 기타 기업 목적을 위해 재발행될 수 있습니다.
Superior Group of Companies (NASDAQ: SGC) a annoncé un nouveau plan de rachat d'actions approuvé par son conseil d'administration. Le plan autorise l'entreprise à rachat d'actions jusqu'à 10 millions de dollars sur une période d'un an. Cela remplace le plan précédent du 2 mai 2019, qui autorisait le rachat jusqu'à 750 000 actions, dont 92 549 ont été achetées.
Le nouveau plan permet à SGC d'acheter des actions par le biais de différentes méthodes, notamment des achats sur le marché libre, des transactions négociées en privé et des achats en bloc. Le moment et le nombre d'actions rachetées dépendront de critères tels que le prix des actions, la disponibilité et les conditions du marché. Les actions rachetées peuvent être réémises pour des plans d'avantages pour les employés et d'autres fins d'entreprise.
Die Superior Group of Companies (NASDAQ: SGC) hat einen neuen Aktienrückkaufplan vorgestellt, der vom Vorstand genehmigt wurde. Der Plan erlaubt es dem Unternehmen, aktien im Wert von bis zu 10 Millionen Dollar innerhalb eines Jahres zurückzukaufen. Dieser ersetzt den vorherigen Plan vom 2. Mai 2019, der den Rückkauf von bis zu 750.000 Aktien erlaubte, von denen 92.549 zurückgekauft wurden.
Der neue Plan ermöglicht es SGC, Aktien durch verschiedene Methoden zu kaufen, darunter Käufe auf dem offenen Markt, privat verhandelte Transaktionen und Blockkäufe. Der Zeitpunkt und die Anzahl der zurückgekauften Aktien hängen von Faktoren wie dem Aktienkurs, der Verfügbarkeit und den Marktbedingungen ab. Zurückgekaufte Aktien können für Mitarbeiter-Benefit-Programme und andere Unternehmenszwecke wieder ausgegeben werden.
- Authorization to repurchase up to $10 million of common stock
- Potential to increase shareholder value through stock buybacks
- Flexibility in repurchase methods, including open market and private transactions
- Possibility of using repurchased shares for employee benefit plans
- Allocation of $10 million for buybacks may impact cash reserves
- to a one-year period, which may constrain long-term repurchase strategies
Insights
The announcement of a new $10 million stock repurchase plan by Superior Group of Companies is a significant development. This move signals management's confidence in the company's financial health and future prospects. Stock buybacks can potentially increase earnings per share and stock value by reducing the number of outstanding shares. However, it's important to note that the effectiveness of this strategy depends on various factors:
- The company's current valuation relative to its intrinsic value
- The opportunity cost of using
$10 million for buybacks versus other investments or debt reduction - The timing and execution of the repurchases
Investors should also consider that while the previous plan authorized 750,000 shares, only 92,549 were repurchased, indicating a cautious approach. The one-year timeframe provides flexibility but may also suggest a measured implementation strategy.
This stock repurchase plan could have several market implications:
- Investor sentiment: It may boost confidence, as buybacks often signal that management believes the stock is undervalued.
- Stock liquidity: With a relatively small float (SGC's market cap is around
$190 million ), a$10 million buyback could significantly impact trading volumes and price stability. - Market positioning: In the competitive uniform and promotional products industry, this move might be seen as a strategic use of capital to enhance shareholder value.
However, investors should be cautious. The plan's execution over a year suggests a gradual approach, which might limit immediate market impact. Additionally, the effectiveness of buybacks in creating long-term value is debated among financial experts, with some arguing that strategic investments might yield better returns.
ST. PETERSBURG, Fla., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Superior Group of Companies, Inc. (NASDAQ: SGC) (the “Company”) today announced that its Board of Directors approved a new stock repurchase plan. Under the plan, the Company is authorized to repurchase up to
The new stock repurchase plan allows the Company to purchase common stock from time to time through, among other ways, open market purchases, privately negotiated transactions, block purchases, and/or pursuant to Rule 10b5-1 trading plans, subject to certain requirements and factors. The number of shares purchased and the timing of any purchases will depend upon a number of factors, including the price and availability of the Company’s stock and general market conditions. Shares repurchased may be reissued later in connection with employee benefit plans and other general corporate purposes.
About Superior Group of Companies, Inc. (SGC):
Established in 1920, Superior Group of Companies is comprised of three attractive business segments each serving large, fragmented and growing addressable markets. Across Healthcare Apparel, Branded Products and Contact Centers, each segment enables businesses to create extraordinary brand engagement experiences for their customers and employees. SGC’s commitment to service, quality, advanced technology, and omnichannel commerce provides unparalleled competitive advantages. We are committed to enhancing shareholder value by continuing to pursue a combination of organic growth and strategic acquisitions. For more information, please visit www.superiorgroupofcompanies.com.
FAQ
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