Lebanon, Tennessee-based restaurant operator CBRL Group has completed its most recent share repurchase authorisation of 1.5 million shares, and its board of directors has authorised a new programme for the repurchase of up to 1 million shares of its common stock.
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The purchases are to be made from time to time in the open market at prevailing market prices.
So far this fiscal year, CBRL has repurchased just over 6.6 million shares of its common stock for total consideration of about US$190.1m, or US$28.66 per share. These purchases were made under the company’s previously authorised repurchase programmes of 3 million and 1.5 million shares, respectively, and a previously reported US$60m repurchase executed simultaneously with the issuance of the zero-coupon senior convertible notes in its Q3.
