Video Display To Initiate New 1.5 Mln Stock Buyback Program

(RTTNews) - Video Display Corp. (VIDE) said Tuesday that its Board of Directors has approved a $6 million share repurchase program which, at current market prices, represents about 20% of the company's outstanding shares. The new repurchase program authorizes the purchase of up to 1.5 million shares of the company's common stock on the open market and in private transactions.

With the consummation of the sales of two subsidiaries, the company's cash and deposits currently total about $10 million, subsequent to repaying all long term debt and revolving credit lines which had restricted the company's share repurchase programs for the past several years.