Plantronics to buy up to 1M shares, following repurchase of 21 million shares in 12 years

Plantronics to repurchase up to 1 million shares

SANTA CRUZ, Calif. — Headset maker Plantronics Inc. said Friday it will repurchase up to 1 million shares.

Barbara Scherer, senior vice president and CFO, said Plantronics has repurchased more than 21 million shares since fiscal 1997, and the company’s future cash flows will provide enough liquidity to buy back another 1 million shares.

The Santa Cruz, Calif., company said it will occasionally buy shares of its common stock, depending upon market conditions, in the open market or in privately negotiated transactions.

Shares fell 59 cents, or 2 percent, to $24.38 in early trading.