DHI Group, Inc., today announced that its Board of Directors has authorized a stock repurchase program that permits the purchase of up to $8 million of the Company’s common stock. This new authorization is currently effective and will be in effect through February 11, 2022. Under the plan, management has discretion in determining the conditions under which shares may be purchased from time to time.
In May 2020, the Board of Directors authorized the purchase of up to $5 million of its common stock. Under this plan, the Company repurchased 2.2 million shares of its common stock on the open market for $5 million, effectively ending the program prior to its original expiry date of May 2021.
“We believe the stock buyback program is recognition of the long-term prospects of the business and the undervalued price of our stock,” said Kevin Bostick, Chief Financial Officer of DHI Group, Inc. “Consistent with our previous programs, we will continue to evaluate investment opportunities in the business against buying back shares.”
Repurchases will be made in accordance with applicable securities laws in the open market, in privately negotiated transactions or through other means. Depending on acquisition opportunities, market conditions and other factors, these repurchases may commence or cease from time to time without prior notice.