Finish Line (FINL) Reinstates and 20% Increase of Cash Dividend and the Authorizes Stock Buyback Program of Up To 5 Million Shares

July 17, 2008 4:24 PM EDT

The Finish Line (Nasdaq: FINL) announced that its Board of Directors has reinstated the quarterly cash dividend program with a 20% increase to $0.03 per share of Class A and Class B common stock. The first quarterly cash dividend will be payable on September 15, 2008, to shareholders of record on August 29, 2008.

Finish Line also announced that its Board of Directors authorized a new stock repurchase program to repurchase up to 5 million shares of the Company's Class A common stock, or approximately 9% of the aggregate Class A and Class B common stock outstanding. Under the stock repurchase program, the Company may purchase shares through December 31, 2011. The Company believes that adoption of the repurchase program could be a viable use of excess cash. Such purchases, if any, will occur from time to time, as market conditions warrant and as the Company deems appropriate when judged against other alternative uses of cash.

Related Categories

Corporate News
Dividends
Stock Buybacks

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