Dixie stock repurchase program to enhance shareholder value
09 Aug '07
1 min read
The Dixie Group Inc announced that its Board of Directors has authorized the repurchase of up to $10.0 million of the Company's outstanding Common Stock.
Any repurchases under the Company's stock repurchase program may be made in the open market or through private transactions at such times and such prices as management may from time to time determine are appropriate.
Commenting on the stock repurchase authorization, Daniel K. Frierson, chairman and chief executive officer, said, "With this stock repurchase authorization, our management will be in a position to take advantage of market opportunities to enhance shareholder value."
"Based on our current stock price, we believe repurchases of the Company's stock represent an excellent investment that should provide long-term value to our shareholders."
The Dixie Group is a leading marketer and manufacturer of carpet and rugs to higher-end residential and commercial customers through the Fabrica International, Masland Carpets and Dixie Home brands.
marketing@alchempro.com
