Novanta Board Approves Additional $200 Million Share Repurchase

(RTTNews) - Novanta Inc. (NOVT) on Thursday said its board has approved the repurchase of up to an additional $200 million of its shares, adding to the $31 million remaining from its 2020 board authorization. The total buyback program now has a capacity of $231 million.

"The Board's action reflects continued confidence in the Company's financial strength, the execution of our growth strategy, and our ability to maximize shareholder value by deploying Novanta's cash flows to the highest returning investments available to the company," said Robert Buckley, Chief Financial Officer.