Champion Homes announced that its board of directors has authorized an increase of $50 million to the company’s existing share repurchase program, bringing the aggregate capacity of the program to $150 million.
“We remain confident in our strategy and we continue to deliver strong cash generation,” said Tim Larson, president and chief executive officer of Champion Homes. “We remain committed to delivering long-term shareholder value through a thoughtful approach to capital allocation.”
Repurchases under the share repurchase program may be made through a variety of methods, including open market or privately negotiated purchases. The timing and amount of shares repurchased will depend on the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, and other factors. Champion Homes is not obligated to repurchase any specific amount of shares of common stock, and the share repurchase program may be suspended or terminated at any time.
Champion Homes also recently announced financial results for its fourth quarter and full year ended March 29.
