Sanderson Farms (SAFM) Expands Repurchase Program to 1M Shares
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Sanderson Farms, Inc. (NASDAQ: SAFM) expanded its stock repurchase program to 1 million shares. The Company's Board of Directors previously authorized the repurchase of up to 225,000 shares in April 2008.
"The expansion of our stock repurchase program highlights the Board's confidence in the future of Sanderson Farms," stated Joe F. Sanderson, Jr., chairman and chief executive officer of Sanderson Farms. "We plan to use our expanded stock repurchase program to offset shares issued through our equity compensation programs. We believe this program represents a good use of corporate funds while minimizing potential dilution related to our equity compensation programs."
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