By Business Wirevia The Motley Fool
Filed under: Investing
PCTEL Announces Stock Buyback
Board of Directors Authorizes $5 Million for Buyback Program
BLOOMINGDALE, Ill.–(BUSINESS WIRE)– PCTEL, Inc. (NAS: PCTI) , a leader in simplifying wireless and site solutions for private and public networks, announced today that its Board of Directors approved a $5 million stock buyback program at its recent, quarterly meeting. The program will stay in effect for one year.
“We are confident in the long-term prospects for our industry, our specific markets, and our products,” said Marty Singer, PCTEL‘s Chairman and CEO. “Our stock buyback program reflects that confidence as well as the company’s commitment to enhancing stockholder value,” added Singer.
PCTEL also offers investors a quarterly dividend of $.035 per quarter or approximately two percent. The dividend was increased late last year.
About PCTEL
PCTEL, Inc. (NAS: PCTI) , develops antenna, scanning receiver, and engineered site solutions and services for public and private networks. PCTEL RF Solutions specializes in the design, optimization and testing of today’s wireless communication networks. The company’s SeeGull® scanning receivers, SeeHawk® visualization tool, and Clarify® system, measure and analyze wireless signals for efficient cellular network planning, deployment, and optimization. PCTEL develops and supports scanning receivers for LTE, TD-LTE, EV-DO, CDMA, WCDMA, TD-SCDMA, GSM, and WiMAX networks. PCTEL Secure, which is part of RF Solutions, focuses on Android mobile platform security.
PCTEL Connected Solutions™ simplifies network deployment for wireless, data and communications applications for private network, public safety, and government customers. PCTEL Connected Solutions develops and delivers high-value YAGI, Land Mobile Radio, WiFi, GPS, In-Tunnel, Subway, and broadband antennas (parabolic and flat panel) through its MAXRAD®, Bluewave™ and Wi-Sys™ product lines. PCTEL also designs specialized towers, enclosures, fiber optic panels, and fiber jumper cables to deliver custom engineered site solutions. The company’s vertical markets include SCADA, Health Care, Smart Grid, Positive Train Control, Precision Agriculture, Indoor Wireless, Telemetry, Off-loading, and Wireless Backhaul. PCTEL‘s products are sold worldwide through direct and indirect channels. For more information, please visit the company’s web sites www.pctel.com, www.antenna.com, www.rfsolutions.pctel.com, www.connectedsolutions.pctel.com, www.towerworx.com, or www.pctelsecure.com.
PCTEL Safe Harbor Statement
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Source: FULL ARTICLE at DailyFinance