Shoe Carnival to acquire up to $50 mn outstanding common stock
18 Dec '06
1 min read
Shoe Carnival Inc is a leading retailer of value-priced footwear and accessories announced that, in view of the Company's current cash position and anticipated future operating cash flows, its Board of Directors (BOD) authorized the Company to acquire up to $50 million of its outstanding common stock.
The purchases may be made in the open market or in any private transaction, from time-to-time through December 31, 2008 and in accordance with applicable laws, rules and regulations.
Any shares acquired will be available for stock-based compensation awards and other corporate purposes.
The Company had approximately 13.5 million shares of common stock outstanding as of December 1, 2006.
The closing price of the Common Stock on the Nasdaq Global Select Market as of December 14, 2006, was $29.43.
marketing@alchempro.com
