SRX Global is trading at $2.38 (6.1% down) in pre-market as investors lock in profits following a sharp two-day surge driven by aggressive capital return news.
- The board approved a one-time special cash dividend of $0.05 per share.
- A new $20 million share repurchase program was authorized for up to 10 million shares, representing approximately 50% of the company's shares outstanding.
- The current pullback follows a significant rally triggered by the announcement of these shareholder-friendly initiatives.