Burger King to repurchase up to $200 million of stock
March 06, 2009
by FoodBusinessNews.net Staff
MIAMI — The board of directors for Burger King Holdings, Inc. has authorized the repurchase of up to $200 million of the company’s common stock. The share repurchases will be made in the open market from time to time prior to Dec. 31, 2010.
The company’s management will determine the amount and time of the repurchases, which will be funded from available cash. The share repurchases may be suspended or discontinued at any time. The company’s previous $100 million stock repurchase plan expired as of Dec. 31, 2008.
The board of directors also declared a quarterly dividend of 6.25c per share of common stock payable March 30 to shareholders of record at the close of business on March 16.