Domino's Pizza (DPZ) Announces $800M Accelerated Share Repurchase Plan

Domino's Pizza, Inc. (NYSE: DPZ) announced that it had completed a recapitalization transaction on October 21, 2015 and intends to use the majority of the available excess proceeds for an accelerated share repurchase (ASR) program.

The Company announced an $800 million share repurchase authorization, which replaces its previous $200 million open market share repurchase program. As part of the new authorization, the Company will conduct a $600 million ASR.

J. Patrick Doyle, Domino's President and Chief Executive Officer, said: "Our business is flourishing. We're proud of the ongoing returns this is driving for both our shareholders and franchisees in the form of share appreciation, regular dividends, open market share repurchases – and store profitability. We were also able to use our balance sheet and strong relationships with lenders to provide an additional opportunity for shareholders through an accelerated share repurchase program."

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