Dole Food Launches New Share Buyback Program

Dole Food hopes to boost the value of its common stock by repurchasing a chunk of its outstanding shares. The company's board has authorized a buyback program for up to $200 million worth of stock. The program is effective immediately; the firm did not say if it had an expiration date.

The buybacks will be effected through various means, including block trades, tenders, and privately negotiated purchases.

In the press release announcing the move, Dole quoted its COO, C. Michael Carter, as saying that it "affords us an opportunity to return cash to our shareholders, while rebalancing our capital structure by reducing the number of outstanding shares of common stock and increasing earnings per share."

The article Dole Food Launches New Share Buyback Program originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Dole. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


Increase your money and finance knowledge from home

Introduction to Preferred Shares

Learn the difference between preferred and common shares.

View Course »

Socially Responsible Investing

Invest in companies with a conscience.

View Course »

Add a Comment

*0 / 3000 Character Maximum