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Standard Motor Products announces new stock repurchase program

Feb. 16, 2017 11:21 AM ETStandard Motor Products, Inc. (SMP) StockBy: Niloofer Shaikh, SA News Editor
  • The Board of Directors of Standard Motor Products (NYSE:SMP -1.5%)  has authorized the purchase of up to $20M of its common stock under a stock repurchase program.
  • The Company intends to fund the stock repurchase program through its revolving credit facility.
  • Any repurchased shares will be held as treasury stock and will be available for general corporate purposes, including funding existing equity compensation plans.
  • Press Release

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