Smith & Wesson Brands (SWBI) Announces $50M Share Buyback

December 16, 2020 4:05 PM EST

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Smith & Wesson Brands, Inc. (NASDAQ: SWBI), a leader in firearm manufacturing and design, today announced that its Board of Directors has authorized the repurchase of up to $50 million of the company's common stock through December 14, 2021. The amount and timing of any repurchases will depend on a number of factors, including price, trading volume, general market conditions, legal requirements, and other factors. The repurchases may be made on the open market, in block trades, or in privately negotiated transactions. Any shares of common stock repurchased under the program will be considered issued but not outstanding shares of the company's common stock.

Mark Smith, Chief Executive Officer, stated, "Today's authorization by our Board of Directors demonstrates our continued commitment to returning excess capital to our stockholders that was started in September when we announced our first ever dividend."

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