Vista Outdoor (VSTO) Board Authorizes $100M Common Stock Buyback Plan
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Vista Outdoor Inc. (NYSE: VSTO) announced that the company's Board of Directors has approved a new repurchase program for up to $100 million of the company's common stock.
"We recently completed our previously approved $200 million share repurchase program, and we are committed to creating long-term value for our shareholders by repurchasing shares as part of a balanced capital deployment strategy," said Mark DeYoung, Vista Outdoor Chairman and Chief Executive Officer.
The timing, number and value of shares repurchased by Vista Outdoor under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of Vista Outdoor's stock, Vista Outdoor's operating results and financial position, alternative investment opportunities, general market and economic conditions, legal and regulatory considerations and compliance with the terms of Vista Outdoor's senior credit facility and indenture governing the company's 5.875% Senior Notes. Vista Outdoor's share repurchase program expires at the end of Fiscal Year 2018. Repurchases under the program may be executed from time to time in open market transactions at prevailing market prices or in privately negotiated transactions and may be suspended at any time. The program also allows the company to execute repurchases using Rule 10b5-1 trading plans.
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