Upland Software announced that its board of directors approved a stock repurchase program, authorizing the company to buy back up to $10 million of its outstanding common stock. This program demonstrates management's confidence in the company's current valuation and future outlook.
A stock repurchase program can reduce the number of outstanding shares, which can potentially increase earnings per share and shareholder value. The company plans to execute this buyback program within the next 12 months.
This strategic capital allocation decision follows a period of significant transformation for Upland, including divestitures and a focus on AI-powered solutions. The buyback is a direct action to return value to shareholders.
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