G&K announces $75 mn expansion of Share Repurchase Program
14 May '08
2 min read
"We consider our stock to be a great investment opportunity and excellent use of our strong cash flow and debt capacity, said Jeffrey Wright, G&K's senior vice president and chief financial officer." "The expanded share repurchase program will further enhance our earnings per share growth while we maintain our strong financial position to fund organic growth initiatives, pursue strategic acquisitions and repurchase our shares."
The company plans to repurchase shares from time to time in open market, privately negotiated or other transactions in accordance with applicable federal securities laws. The timing and the amount of the repurchases will be determined by the company's management based on its evaluation of market conditions, share price and other factors.
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