- Franklin Electric co Inc (NASDAQ:FELE) said its Board of Directors approved a 1 million share increase to its stock repurchase program.
- This is in addition to the approximately 216,000 shares that remain authorized for repurchase under the existing stock repurchase program.
- “We are pleased to increase our share repurchase authorization, which is enabled by our consistent operational performance and our healthy financial position,” said Chairperson and CEO Gregg Sengstack.
- The company held $45.8 million in cash and equivalents as of Dec. 31, 2022.
- Franklin Electric specializes in producing and marketing systems and components for the movement of water and fuel.
- Price Action: FELE shares are trading lower by 0.43% at $95.99 on the last check Tuesday.
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