JRSH - Jerash authorizes $3M buyback

Jerash (NASDAQ:JRSH) authorizes a share repurchase program of up to $3M shares. The program will be in effect through the end of current fiscal year, March 31, 2023. Current market cap of the company is $80.5M and has dipped 2.5% YTD. "The decision reflects the board's and management's confidence in the near- and long-term prospects for the Company. We believe an investment in our shares at this time represents a solid opportunity and prudent allocation of capital, balanced with Jerash's strong cash position and free cash flow to fund operating growth and return value to our shareholders." said Sam Choi, Chairman and CEO.

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Jerash authorizes $3M buyback