Mastercraft Boat Authorizes $50M Share Buyback

Mastercraft Boat Holdings Inc’s MCFT Board of Directors had approved a new share repurchase program of up to $50 million.
Mastercraft will repurchase up to $50 million of its outstanding shares of common stock during the three years ending June 2024.
The company also announced a new $160 million credit facility, consisting of a $60 million term loan and a $100 million revolving credit facility.
“The new credit facility we have put in place provides us with greater flexibility to pursue our strategic goals, improve our capital structure and increase liquidity,” said Fred Brightbill, Chief Executive Officer.
Mastercraft’s cash and equivalents totaled $28.9 million as of March 31, 2021.
Price action: MCFT shares traded higher by 2.64% at $26.06 on the last check Tuesday.

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