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Stock impact report

Motorcar Parts of America Announces Share Repurchase Program Increase

Motorcar Parts of America, Inc. (MPAA) 
Last motorcar parts of america, inc. earnings: 2/10 08:00 am Check Earnings Report
Company Research Source: Business Wire
LOS ANGELES--(BUSINESS WIRE)--Motorcar Parts of America, Inc. (Nasdaq:MPAA) today announced its board of directors has authorized an increase to $57 million for the company’s share purchase program of outstanding common stock from time to time in the open market and in private transactions at prices deemed appropriate by management.The company’s previous share repurchase program was limited to $37 million. Motorcar Parts of America currently has approximately 19.6 million shares outstanding.“This share repurchase program is consistent with management’s commitment to increasing shareholder value -- leveraging the company’s financial strength and prominent position within the non-discretionary automotive aftermarket,” said Selwyn Joffe, chairman, president and chief executive officer.About Motorcar Parts of America, Inc.Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts -- including alternators, starters, wheel bearings Show less Read more
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