This week, the company also announced that the board of directors approved an additional $5 million be added to the company's stock repurchase program.
"The decision to add an additional $5 million to the company's stock repurchase program, along with our board's recent decision to raise our dividend rate, reflects the confidence of both management and our board in the company's continued business strength," said Keith Walters, chairman, president and chief executive officer of Ennis Inc. "With this addition, the company will have almost $9 million available for share repurchases. We believe that the purchase of our shares, given the current price at which the common stock is trading, relative to the company's earnings per share and book value per share, is a solid investment in the company and will add to shareholder value."
- Companies:
- Alstyle Apparel