Del Global suspends stock buyback

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Del Global Technologies has suspended its stock repurchase program and associated 10b5-1 sales trading plan to free up cash for working capital.

The previously announced program authorized the company's repurchase of up to approximately 2.4 million shares, or approximately 10 percent of its outstanding common stock.

Prior to the suspension, a total of approximately 1.5 million shares of the company's common stock, with an aggregate cost of approximately $1.6 million had been repurchased, which allowed the Franklin Park, Ill.-based Del Global to purchase its shares at times when it would not ordinarily be in the market because of its trading policies or the possession of non-public information.