Flextronics International Ltd. (FLEX) said Friday its board of directors authorized a stock buyback plan that would involve repurchasing up to $200 million of the company’s stock.
The electronics manufacturer said the company is authorized to buy back up to 10% of the company’s outstanding stock. The buyback plan may be suspended or canceled at any time without notice, the company noted.
Shares of Flextronics were down 9 cents, or 1.3%, Friday. Year-to-date, the stock is down nearly 8.5%.
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