The board of directors of Smith & Wesson Holdingtoday announced an expansion of its common stock repurchase program. The board has authorized the purchase of an additional $15 million of Smith & Wesson common stock, to be purchased between now and June 30, 2013.
Today's press release follows the Dec. 6 announcement by Smith & Wesson of its intention to repurchase $20 million of common stock. The initial $20 million repurchase program has been completed. The additional $15 million stock repurchase program will be funded by Smith & Wesson's available cash and working capital.
The timing and amount of its common stock purchases will be determined by price, market conditions, and trading volume, among other factors.
The article Smith & Wesson Expands Buyback Plans by $15 Million originally appeared on Fool.com.
Tim Brugger has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.