ePlus Announces Stock Repurchase Program

ePlus (NASDAQ:PLUS) has announced that its board of directors has authorized the company to repurchase up to 500,000 shares of its outstanding common stock over a 12-month period beginning August 19, 2017.
As quoted in the press release:

The Company’s former repurchase plan will expire on August 18, 2017.  ePlus had approximately 14.2 million shares of common stock outstanding as of July 31, 2017.

The purchases may be made from time to time in the open market, or in privately negotiated transactions, subject to availability.  Any repurchased shares will have the status of treasury shares and may be used, if and when needed, for general corporate purposes.  ePlus has no obligation to repurchase shares under the authorization, and the timing, actual number and value of the shares which are repurchased will be at the discretion of management and will depend on a number of factors, including the price of the Company’s common stock. The Company may suspend or discontinue repurchases at any time.

Click here to read the full press release.