SOUTH PORTLAND, Maine--(BUSINESS WIRE)--WEX Inc. (NYSE:WEX) a leading provider of corporate payment solutions, today announced that the board of directors has authorized a share repurchase program under which up to $150 million worth of the company's common stock may be repurchased.
Repurchases may be made from time to time until September 30, 2021 through open market purchases, privately negotiated transactions, block trades or otherwise. Repurchases are subject to the availability of stock, prevailing market conditions, trading price of the stock and the Company's financial performance. The repurchase program does not obligate the Company to acquire any specific number of shares and may be discontinued or suspended at any time. The Company is not scheduled to acquire any shares at this time. All instructions for the repurchase of shares under this program must be in compliance with Rule 10b-18 and the covenants of any credit facility or indentures then outstanding. Purchases may be executed utilizing the safe harbor provisions of Rule 10b5-1 of the Securities Exchange Act.
About WEX Inc.
WEX Inc. (NYSE: WEX) is a leading provider of corporate payment solutions. From its roots in fleet card payments beginning in 1983, WEX has expanded the scope of its business into a multi-channel provider of corporate payment solutions representing more than 10 million vehicles and offering exceptional payment security and control across a wide spectrum of business sectors. WEX serves a global set of customers and partners through its operations around the world, with offices in the United States, Australia, New Zealand, Brazil, the United Kingdom, Italy, France, Germany, Norway, and Singapore. WEX and its subsidiaries employ more than 2,700 associates. The Company has been publicly traded since 2005, and is listed on the New York Stock Exchange under the ticker symbol “WEX.” For more information, visit www.wexinc.com and follow WEX on Twitter at @WEXIncNews.