FREE Breaking News Alerts from StreetInsider.com!
E-mail Address
Top NewsMost Read Highlighted
Get AlertsSONC Hot Sheet
BUY ( Up)
Sonic Corp (NASDAQ: SONC) announced that its Board of Directors increased its share repurchase authorization from $40 million to $55 million.
The company has repurchased approximately $25 million of the original $40 million authorized in August 2012. The increased authorization leaves approximately $30 million of unspent authorization. Since September 2011, the Company has expended approximately $55 million for the repurchase of 6.6 million shares representing approximately 11% of its outstanding common stock. The authorization expires August 31, 2013 and share repurchases may be made from time to time in the open market or in negotiated transactions depending on share price, market conditions and other factors.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items – JOIN NOW