PRLB - Protolabs expands stock repurchase program by $50M

Protolabs (NYSE:PRLB) board approved a $50M increase in its authorized stock repurchase program with an expiration date of Dec.31, 2023. With this authorization, the stock repurchase program is now increased to $150M. As of Dec. 7, Protolabs had repurchased total dollar value of $87M, leading to $63M remaining available to purchase common stock under the expanded stock repurchase program. Protolabs' capital allocation strategy remains unchanged and it prioritizes organic investment to enhance its platform and capacity.

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Protolabs expands stock repurchase program by $50M