Extended Stay America (STAY) Raises Buyback Plan by $100M
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Extended Stay America Announces $100 Million Increase in Paired Share Repurchase Authorization
January 5, 2017 7:30 AM ESTCHARLOTTE, N.C.--(BUSINESS WIRE)-- Extended Stay America, Inc. and ESH Hospitality, Inc. (NYSE: STAY) (together, the Company)Â today announced that the Companys Boards of Directors authorized an increase of the combined Paired Share repurchase program from $200 million to $300 million of Paired Shares and extended the maturity of the program through December 31, 2017, each effective January 1, 2017. The increase in Paired Share repurchase authorization highlights the Companys commitment to returning meaningful capital to shareholders while continuing to invest in the Companys hotel portfolio and growth opportunities.
As of January 1, 2017, the Company had repurchased and... More
