Troy Group to Buy Back $4 Million in Shares

Troy Group Inc., a Santa Ana provider of electronic payment systems and wireless printing, said Monday that its directors approved a $4-million stock repurchase program.

The company said in a press release after the stock market closed that it will repurchase its stock on the open market periodically and also may reacquire shares in privately negotiated transactions. It said it may interrupt or discontinue the program at any time.

Troy did not say why it was buying back shares. Typically, companies launch repurchase programs to retire the stock they buy in an effort to boost the value of the remaining shares outstanding.

Troy’s stock gained 38 cents Monday to close at $3.75 a share on Nasdaq. Early last year, the stock traded as high as $38 a share.