Winnebago Industries announced that its Board of Directors authorized a new share repurchase authorization of up to $200 million of the company’s common stock. The share repurchase authorization replaces the previous $70 million share repurchase program.
Said President and CEO Michael Happe, “This share repurchase authorization is the largest in Winnebago Industries’ history and reflects our confidence in the business, our strong cash generation ability and commitment to creating value for shareholders. Additionally, we recently announced a 50 percent increase in our quarterly dividend in August, further exemplifying the optimism we have in our future performance.
“By continuing to grow revenues, gain market share, drive enhanced levels of profitability and cash flow, we have the opportunity to pass these successes to our shareholders in the form of higher dividends and share repurchase, all while continuing to emphasize our organic and inorganic growth imperatives and maintain a strong, healthy balance sheet.”
The repurchase program has no termination date and does not obligate Winnebago Industries to acquire any number of shares in any specific period, or at all, and may be suspended or discontinued at any time at the company’s discretion.