Burger King to repurchase $100 of common stock
June 01, 2007
by FoodBusinessNews.net Staff
MIAMI — Burger King Holdings Inc. announced it will repurchase up to $100 million of its common stock. The share repurchase will be made available periodically in the market before Dec. 31, 2008, and will be funded from available cash.
"Our share repurchase plan provides us with the flexibility to be opportunistic, depending on market conditions, to enhance shareholder value over the long term," said John Chidsey, chief executive officer.
Company management will determine the amount and timing of the repurchases.
The company is also declaring a quarterly dividend of .0625c per share of common stock, which will be payable on June 28 to shareholders of record as of June 11.