Optical Cable Corp., a fiber-optic cable-maker, plans to buy back 5 percent of its stock, or up to 326,000 shares, and retire the assets within two years.

The Roanoke-based company hasn't repurchased any of the 6.5 million outstanding common shares yet, but will begin to do so after it releases fourth-quarter financial results in January, CEO Neil Wilkin said in an interview.

The company hopes the move will help boost per-share prices, he said.

"The value of the company is not reflected in the stock price at the moment," Wilkin said.

Optical Cable rose 7 cents, or 2.4 percent, to $3.02 at the close of Nasdaq exchange trading Tuesday, the day it announced the plan. The company gained 11 percent this year before today.

The company previously bought back 5 percent, or about 300,000 shares, between March 2007 and October this year.