Plexus Corp (PLXS) Announces $50M Buyback

Plexus (NASDAQ: PLXS) announced today that its Board of Directors has approved a new share repurchase program under which the Company is authorized to repurchase up to $50 million of its common stock beginning upon expiration of the Company’s previous share repurchase program. This most recent authorization is expected to extend through fiscal 2020.

Patrick Jermain, Executive Vice President and Chief Financial Officer, commented, “This repurchase program reflects our commitment to maximizing total shareholder return and our disciplined focus on delivering superior financial performance. We believe that repurchasing Plexus stock, at current market prices, is an attractive use of our capital resources and provides an opportunity to enhance shareholder value.”

The authorized repurchases represent approximately 3% of current market capitalization. Plexus does not have a specific schedule or commitment for the repurchase of the shares; however, subject to market factors, it expects to complete the authorized repurchases on a relatively consistent basis through fiscal 2020.

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