Dorman Products Inc. announced that its board of directors has approved a resolution to increase and extend its share repurchase program by an additional $100 million, raising the aggregate authorization under the program to $250 million. The company has spent $98.6 million to date under the existing authorization.
The authorization is effective through Dec. 31, 2018. Stock repurchases under the program may be made from time to time, as the company deems appropriate, based on factors such as market conditions, share price, share availability and other factors. There can be no assurance as to the number of shares the company will purchase, if any, and the program may be modified, renewed, suspended or terminated by the company at any time without prior notice.