IDEXX Laboratories, Inc. announced that its Board of Directors authorized an increase in its ongoing share repurchase program. The authorization allows for the repurchase of up to five million additional shares of the company's common stock. This decision reflects the company's commitment to returning value to shareholders.
These newly authorized shares are in addition to the 1.3 million shares that remained under the company's existing share repurchase program as of December 3, 2024. Repurchases may be executed at management's discretion through open market transactions, including Rule 10b5-1 plans, or negotiated transactions.
The share repurchase program does not have a specified expiration date and can be suspended or discontinued at any time. This increased authorization provides IDEXX with enhanced flexibility in its capital allocation strategy, signaling confidence in its financial strength and future prospects.
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