Unifi Announces New Share Repurchase Program
On October 31, Unifi, Inc. (UFI) announced that the company’s Board of Directors authorized a new stock repurchase program. The Board of Directors terminated the previous program, which had been in place since April 2014. The new program authorizes management to repurchase up to $50 million of the company’s common stock.
Sonal detected the event at 4:35 pm. The next trade took place at 4:50 pm for $22.89. Unifi opened for regular market trading the next morning at $23.10. After climbing all day, Unifi closed at $25.90 for an event-day gain of 13%.
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