Superior Industries International Inc. (SUP) announced that its board has approved a stock repurchase program that authorizes the repurchase of up to $30 million of the company's common stock.
The company expects to fund the repurchases through available cash, although credit options are being evaluated in the context of total capital needs.
The company currently has about 27.3 million shares of common stock outstanding and had $207 million of cash, cash equivalents and short-term investments at the end of fiscal year 2012.
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