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Black Box Boosts Buyback

TSC Staff

Black Box (BBOX Quote) boosted its share-buyback program by a million shares Friday, saying it remains committed to buying back stock.

The Pittsburgh-based tech infrastructure company said it is now cleared to buy back 1.4 million shares, or 8% of its outstanding stock. The company bought back 552,000 shares during the first quarter for $25 million.

The move comes a day after Black Box boosted its quarterly dividend by a penny to 6 cents.

On Friday, the stock was flat at $33.60.