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ZAGG Inc., a Salt Lake City-based provider of mobile device accessories that include protective coverings to prevent scratches and dents, said its board of directors has authorized a share repurchase program under which the company may acquire up to $10 million of its outstanding stock.
"The share repurchase program demonstrates our commitment to building long-term shareholder value and our confidence in the growth potential of ZAGG," Randy Hales, president and CEO said in a statement announcing the new initiative.
He said the company will consider repurchasing its shares from time to time over the next 12 months.