Lifeway Foods has authorised a stock repurchase programme of up to 75,000 shares.
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Under such a programme, Lifeway Foods may repurchase up to 75,000 shares of the company’s common stock through the open market within a period of one year from the date of the first purchase. The company will use its available cash resources to fund the stock repurchase programme, it said.
Edward Smolyansky, Lifeway’s CFO, said: “We have recently completed the repurchase programme announced back in March 2006, and I am very pleased that our board of directors has approved this stock repurchase programme. Given the current market conditions and our strong operating cash flow and cash reserves, we believe that repurchasing Lifeway stock is a prudent investment which demonstrates our commitment to growth and to enhancing long term shareholder value.”
