Plexus Corp. announced that its Board of Directors has approved a new share repurchase program, authorizing the company to repurchase up to $100.0 million of its common stock. This new program underscores Plexus's ongoing commitment to enhancing shareholder value.
The approval follows the full utilization of the company's previous $50 million share repurchase program. The new authorization provides Plexus with flexibility to continue its capital allocation strategy, leveraging its strong free cash flow generation.
Share repurchases are a key component of Plexus's strategy to deploy excess cash, alongside debt reduction and strategic investments in growth initiatives. This move reflects confidence in the company's financial position and its ability to generate sustainable returns.
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