Sonos (SONO) Announces $150M Share Buyback

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Go back to Sonos (SONO) Announces $150M Share Buyback

Sonos Announces $150 Million Stock Repurchase Program and Completion of Previous Stock Repurchase Program

November 17, 2021 4:06 PM EST

SANTA BARBARA, Calif.--(BUSINESS WIRE)-- Sonos, Inc. (Nasdaq: SONO) today announced that its Board of Directors has authorized a common stock repurchase program of up to $150 million.

Since September 2019, the company has completed $100 million in stock repurchases, including its most recent $50 million stock repurchase program which it completed in the fourth quarter of fiscal 2021. Under these prior authorizations, the company repurchased 5.2 million shares at an average price of $19.30 per share enabling the company to return capital to shareholders and offset dilution from compensation plans.

Patrick Spence, Sonos CEO, commented,... More