National Beverage Corp. Increases Buyback Program to 1.6M SHares
National Beverage Corp. (NASDAQ: FIZZ) reports Board action relating to meeting held April 20, 2012:
“As the Company approaches its summer and historically best-performing quarter; America braces for ‘political and mega-low market jitters'! Continuing market volatility, the upcoming summer quarter, our strong balance sheet and the forecast business model – has afforded the Board and our shareholders exciting options,” stated Nick A. Caporella, Chairman and Chief Executive Officer.
“First, the Board has increased its Stock Buyback Program to 1.6 million shares. Having previously purchased 502,000 shares under the original program, the Company can now repurchase an additional 1.1 million shares. Additionally, the Board, desirous to continue its commitment of returning our investors' cash at appropriate times, has instructed management to retain specialists/advisors for this purpose,” Caporella continued. “Over the next several months, historically our best-performance period, our initiatives relative to pending opportunities, cash accumulation and first-quarter results, will significantly affect this decision.”
“Presently, with only days to fiscal year end, we anticipate our best year ever – and with all things considered, that's a hell-of-a-statement to make! That's an . . . AMEN!” Caporella smiled.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.