Exponent, Inc. (NASDAQ:EXPO) today announced that its Board of Directors has authorized an additional stock repurchase plan and has declared a quarterly cash dividend of $0.18 per share of common stock to be paid on December 23, 2016 to all common stockholders of record as of December 2, 2016.
Exponent’s Board of Directors has approved an additional $35 million in share repurchases, adding to the Company’s existing $22 million available under the current authorization for repurchase. In total, the Company now has approximately $57 million available to repurchase shares. This plan authorizes Exponent to purchase its common stock in the open market or privately negotiated transactions in compliance with the Securities and Exchange Commission’s Rule 10b-18.
Exponent has paid, and expects to continue to pay, quarterly dividends each year in March, June, September and December. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to the final determination of Exponent’s Board of Directors.
“We believe that our active stock repurchase plan and regular dividend payments demonstrates our commitment to deliver shareholder value and reflects our continued confidence in the strength and stability of our long-term financial position,” commented Dr. Paul Johnston, Chief Executive Officer.
About Exponent
Exponent is an engineering and scientific consulting firm providing solutions to complex problems. Exponent’s multidisciplinary organization of scientists, physicians, engineers, and business consultants brings together more than 90 technical disciplines to address complicated issues facing industry and government today. The firm has been best known for analyzing accidents and failures to determine their causes, but in recent years it has become more active in assisting clients with human health, environmental and engineering issues associated with new products to help prevent problems in the future.
Exponent may be reached at (888) 656-EXPO, [email protected], or www.exponent.com.
