SFM - Sprouts Farmers Unveils $600M Share Repurchase Plan | Benzinga
Sprouts Farmers Market, Inc. (NASDAQ: SFM) has taken a significant step in reinforcing its commitment to enhancing shareholder value. Recently, the company's board of directors authorized a new $600-million share repurchase program, signaling a robust financial strategy aimed at optimizing shareholder returns.
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The new share repurchase program supersedes the previous initiative, which had about $120 million left. This move highlights Sprouts Farmers Market's proactive approach to managing its capital and showcases its confidence in its financial health and prospects.
Under the terms of the new repurchase plan, Sprouts Farmers has the flexibility to repurchase shares based on prevailing market conditions and other investment opportunities. The purchases can be made through various channels, including open-market transactions, privately negotiated deals, or other mechanisms compliant with rule 10b5-1.
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Curtis Valentine, the CFO of Sprouts Farmers, emphasized the strong cash flow generation and the board's confidence in the company's strategic direction as key drivers behind the share repurchase program. Valentine stated, "The extension of the ongoing share repurchase program reflects strong cash flow generation and the Board's confidence in the ...