Clearfield Raises Stock Repurchase Program By $20 Mln

(RTTNews) - Clearfield, Inc. (CLFD), Tuesday announced the decision to increase its common stock share repurchase program from $65 million to $85 million, underscoring the company's commitment and confidence in its long-term outlook.

The move aligns with the board's view that the current share price does not fully capture our long-term opportunity.

Funded by cash on hand, the program is expected to continue indefinitely until the maximum dollar amount of shares has been repurchased or until the repurchase program is earlier modified, suspended or terminated by the Board of Directors.

In the pre-market hours, CLFD is trading at $29.19, down 0.65 percent on the Nasdaq.