Wolverine World Wide (WWW) Approves $300M Common Stock Buyback Plan

August 16, 2016 7:56 AM EDT

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Wolverine Worldwide (NYSE: WWW) announced that the Company's Board of Directors approved a new, four-year share repurchase program, authorizing up to $300 million in share repurchases and replacing the remaining balance of the Company's 2014 Share Repurchase Program.

"Wolverine Worldwide has a long history of returning value to shareholders through share repurchases and consistent dividend payments. Today, the strategic priorities for the Company remain unchanged, and our business model continues to work and generate significant cash," said Blake W. Krueger, Wolverine's Chairman, Chief Executive Officer and President. "The Wolverine team is steadfastly focused on driving the global growth of our brands and improving bottom-line performance. Today's announcement is further evidence of our confidence in the business, our key initiatives and our ability to achieve maximum flexibility with regard to capital allocation."

The Company will repurchase shares as deemed appropriate, based on factors including price, market conditions, and any restrictions contained within the Company's credit agreements.

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