Jack in the Box (JACK) Announces Additional $200M Buyback

With earnings, Jack in the Box (NASDAQ: JACK) announced an additional $200 million share repurchase plan.

"We resumed share repurchases during the quarter, with the purchase of $100 million of stock, and last week our Board of Directors authorized an additional $200 million stock buyback program. We also completed an amendment and extension of our existing credit facility which is an interim step that provides an immediate increase in our borrowing capacity to 4.5 times EBITDA while we work with our advisors to evaluate longer-term financing alternatives. We remain comfortable with ultimately increasing our leverage up to 5.0 times EBITDA."

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