Butler National Corporation (OTCQX: BUKS) announced on October 7, 2026, that its Board of Directors has approved a $10 million increase to its existing stock repurchase program. This action raises the total available authorization for share repurchases to approximately $11.9 million. The Board also extended the duration of the program through April 30, 2029.
The company stated that the decision to increase the authorization was based on a review of its current financial position, expected capital requirements, and opportunities for organic growth. The Board indicated that the increased authorization provides flexibility to repurchase shares when market conditions are favorable to long-term shareholders.
Under the program, the Company intends to repurchase shares of its common stock through open market and privately negotiated transactions. The timing, number, and value of shares repurchased will be determined at management's discretion, subject to applicable federal securities laws. The program does not require the Company to acquire any specific dollar amount or number of shares and may be modified, suspended, extended, or terminated by the Board at any time.
Since April 30, 2026, Butler National has repurchased approximately 300,000 shares of its outstanding common stock. The average price paid per share during this period was $4.16.
Jeffrey D. Yowell, Executive Chairman, commented on the announcement, stating that the increased authorization reflects the Board’s confidence in the Company’s long-term prospects and its commitment to creating shareholder value.
