Global Power Equipment Group Inc. (GLPW: Quote) said Friday that its Board of Directors approved the payment of a quarterly cash dividend to stockholders and authorized a stock repurchase program.
The initial quarterly cash dividend of $0.09 per share will be paid on or about June 29 to stockholders of record as of the close of business on June 13.
The stock repurchase program authorizes the purchase of up to 2 million shares of Global Power's common stock, par value $0.01, through June 30, 2014.
The stock repurchase program is currently expected to be funded from existing cash on hand and cash generated from operations.
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by RTT Staff Writer
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