Apogee Enterprises Announces New Share Repurchase Program

Apogee Enterprises, Inc. announced today that its Board of Directors has authorized a new program to repurchase up to 1.5 million shares of the company's common stock.

The company said that shares may be purchased from time to time through open market transactions, block purchases, tender offers, private transactions, accelerated share repurchase programs or Rule 10b5-1 purchase plans and may be discontinued at any time. "We believe that the share repurchase program is one excellent use of our cash that will enhance value for all Apogee shareholders," said Russell Huffer, Apogee chairman, president and chief executive officer."This program is part of our plan for excess cash that includes debt reduction, dividend payment and other strategic uses."

On February 19, 2003 the company announced that it had completed a 1.5 million share repurchase program, originally announced on April 25, 2003 and increased on July 23, 2002.

Apogee has approximately 27.2 million shares of common stock outstanding. The repurchased shares will be available for re-issuance for employee stock option and other benefit plans and for other corporate purposes. The Company intends to fund such repurchases with internally generated funds.

600450 Apogee Enterprises Announces New Share Repurchase Program glassonweb.com
Date: 12 April 2003
Source: Businesswire

See more news about:

Others also read

Local quality glass producer Emirates Glass Limited has won contracts to supply 68,000 square metres of its high quality EmiCool glass to five major projects in Dubai.
Southwall Technologies Inc. (Nasdaq:SWTX), a global developer, manufacturer and marketer of thin-film coatings for the electronic display, automotive glass and architectural markets, today announced that on Dec. 18, 2003, it secured an agreement for a new bank loan guarantee and equity financing package of up to $7.5 million from Needham & Company, Inc., its affiliates and Dolphin Asset Management.
China's largest automobile glass maker Fuyao Glass Industry Group Co, Ltd, won its case against the dumping ruling of the US Department of Commerce (DOC).
When did the wine industry start using glass bottles, and how did they settle on their current size of 750ml? For the answer to these questions, you have to go back in time - back thousands of years to when wine was first cultivated and enjoyed.
Praxair, Inc. (NYSE: PX) today announced that its subsidiary Praxair Canada Inc.'s specialty gases plant in Paris, Ontario, Canada, is one of Praxair's first specialty gases plants in North America to complete the upgrade to ISO 9001:2000, the latest ISO 9000 standard for quality.
KUB Malaysia Bhd has accepted an offer from Nippon Sheet Glass Co Ltd (NSG) to acquire its 15% stake in Malaysian Sheet Glass Bhd (MSG) for RM32.6 million in cash, or RM2.68 per share.

Add new comment