The timing of any repurchases and actual number of shares will depend on the market price of the company’s common stock and a variety of other factors, the release stated.

There were more than 42.7 million shares of Glatfelter’s common stock outstanding April 30, according to a recent filing with the Securities and Exchange Commission.

The price per share closed Tuesday at $15.41, according to Yahoo Finance.

P.H. Glaterfelter's shares are traded on the New York Stock Exchange under the ticker symbol GLT.