EVI Industries Announces Share Repurchase Program
EVI Industries' Board of Directors approved a share repurchase program authorizing the repurchase of up to $10.0 million of the company's outstanding common stock. The company may repurchase shares from time to time in management's discretion through open market or privately negotiated transactions.
Why it matters — A share repurchase program signals the company's confidence in its own stock and can potentially increase shareholder value by reducing the number of outstanding shares.