Benzinga | Jan 18, 2022 12:00PM EST

Natural Alternatives Boosts Stock Buyback Plan By $3M

* Natural Alternatives International Inc (NASDAQ:NAII) said its Board of Directors authorized a $3.0 million increase to its stock repurchase plan.

* The proposed expansion brings the total authorized amount to $18.0 million. To date, the company has purchased 1.9 million shares under this repurchase plan, including the purchase of 237,000 shares since September 30, 2021. The company will have $3.0 million available for stock repurchases under the program.

* Natural Alternatives intends to purchase shares, depending upon market conditions, in the open market or privately negotiated transactions.

* The company held $20.02 million in cash and equivalents as of September 30, 2021.

* Price Action: NAII shares are trading higher by 0.71% at $13.45 on the last check Tuesday.