LoJack Says Has Resumed Repurchase of Shares
LoJack Corporation (NASDAQ GS: LOJN), the global leader in finding and recovering a wide range of mobile assets including cars, construction equipment and motorcycles, today announced that it has resumed the repurchase of shares under its previously announced stock repurchase plan. Prior to commencing the most recent repurchases, LoJack had remaining authority from its Board of Directors to repurchase up to 1,281,613 shares of common stock.
"Based on the current market value of our common stock and our long-term business outlook, we believe that LoJack represents a prudent investment opportunity," said Randy L. Ortiz, the Company's Chief Executive Officer and President. "The decision to resume our stock repurchase activity reflects not only a commitment to enhancing shareholder value but also confidence in the Company's ability to achieve its growth objectives."
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.