WEX board authorizes repurchase of $150M in stock
Photo / Tim Greenway
WEX Inc. headquarters in Portland, on the city's East End.
WEX Inc. (NYSE: WEX), the Portland-based financial technology provider, said its board of directors has authorized the repurchase of up to $150 million in common stock.
A previous stock-repurchase plan has been “substantially completed” this month, WEX said Wednesday. Under that program, WEX repurchased 954,378 shares at an average price of $156.76 per share.
Under the new program, the company is authorized to buy back shares through open market purchases, privately negotiated transactions, block trades and other means. The program is good through Aug. 23, 2026.
In mid-morning trading, shares of WEX were up 2.78%, to $168.20. It has a market capitalization of $7.43 billion.
WEX, which operates in 16 countries, has 5,600 employees globally, including 1,200 in Maine.
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