CTS Board of Directors Authorizes New Share Repurchase Program and Dividend Payment
CTS Corporation (CTS) announced on February 8 that the company’s Board of Directors authorized a share repurchase program as well as the payment of a dividend. The new share repurchase program replaces the remaining balance on the program they authorized in February 2015 and allows the management to repurchase up to $25 million of common stock. CTS will also pay shareholders a dividend of $0.04 per share on April 19.
Sonal received the news and alerted subscribers at 10:57 am. The stock price climbed throughout the day from the market open at $28.59. CTS continued to post gains over the next four trading days. The stock closed at $30.77 on February 14 for a five-day gain of 7.6%.
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