Frequency Electronics announces $20M share repurchase program

The company also announced a $20M authorization for the repurchase of the company’s shares. Added FEI chairman Lance Lord, “We are committed to funding the growth of our business in next-generation opportunities while also continuing to find opportunities to return cash to shareholders. In the past couple of years, we paid out two significant special dividends. The Board believes periodic share repurchases can also be an effective tool for rewarding shareholders, while similarly allowing future value gains to accrete to equity holders. Notably, this repurchase authorization is approximately equal to the combined sum of those two special dividends.”