CTS Corporation Board of Directors Authorizes New Share Repurchase Program and Declares a Dividend
CTS Corporation (NYSE: CTS) announced the approval of a new share repurchase program, allowing for the buyback of up to $50 million of its common stock, replacing the previous program from February 2019.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
CTS Corporation (NYSE: CTS) announced the approval of a new share repurchase program, allowing for the buyback of up to $50 million of its common stock, replacing the previous program from February 2019. Additionally, the Board of Directors declared a cash dividend of $0.04 per share, with a payment date set for July 23, 2021, for shareholders on record by June 18, 2021. These moves aim to enhance shareholder value while reflecting the company's ongoing commitment to returning capital to its investors.
Positive
- New share repurchase program authorizes up to $50 million buyback, signaling management's confidence in stock value.
- Declaring a cash dividend of $0.04 per share, reinforcing commitment to returning value to shareholders.
Negative
- None.
Details
News Market Reaction – CTS
The recorded move for CTS in the trading session of this news was +6.72%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
LISLE, Ill., May 13, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of CTS Corporation (NYSE: CTS) approved a new share repurchase program that authorizes the company to repurchase up to
In addition, the Board of Directors declared a cash dividend of
About CTS
CTS (NYSE: CTS) is a leading designer and manufacturer of products that Sense, Connect, and Move. The company manufactures sensors, actuators, and electronic components in North America, Europe, and Asia, and provides engineered products to customers in the aerospace/defense, industrial, medical, telecommunications/IT, and transportation markets.
For more information, visit www.ctscorp.com.
Contact
Ashish Agrawal
Vice President and Chief Financial Officer
CTS Corporation
4925 Indiana Avenue
Lisle, IL 60532
USA
Telephone: +1 (630) 577-8800
Email: ashish.agrawal@ctscorp.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.