Board of Directors of B&G Foods Authorizes Stock Repurchase Program
March 13 2018 - 4:32PM
Business Wire
B&G Foods, Inc. (NYSE:BGS) announced today that its Board of
Directors has authorized a stock repurchase program for the
repurchase of up to $50.0 million of the Company’s common stock
through March 15, 2019. Under the authorization, the Company may
purchase shares of common stock from time to time in the open
market or in privately negotiated transactions in compliance with
the applicable rules and regulations of the Securities and Exchange
Commission.
“We continue to believe that returning cash to our shareholders
through strong dividends and share repurchases is a key component
of B&G Foods’ total return to our shareholders,” stated Robert
C. Cantwell, President and Chief Executive Officer, of B&G
Foods. “The Board’s actions today reflect continued confidence in
the strength of our business and our ability to continue generating
strong cash flows. We also remain committed to our acquisition
strategy and continue to pursue accretive acquisitions when
opportunities arise.”
The timing and amount of stock repurchases under the program, if
any, will be at the discretion of management, and will depend on
available cash, market conditions and other considerations.
Therefore, there can be no assurance as to the number or aggregate
dollar amount of shares, if any, that will be repurchased under the
repurchase program. The Company may discontinue the program at any
time. Any shares repurchased pursuant to the repurchase program
will be cancelled. The Company currently has 66,592,001 shares of
common stock outstanding.
About B&G Foods, Inc.
Based in Parsippany, New Jersey, B&G Foods and its
subsidiaries manufacture, sell and distribute high-quality, branded
shelf-stable and frozen foods across the United States, Canada and
Puerto Rico. With B&G Foods’ diverse portfolio of more
than 50 brands you know and love, including Back to Nature,
B&G, B&M, Cream of Wheat, Green Giant, Las Palmas,
Le Sueur, Mama Mary’s, Maple Grove Farms,
Mrs. Dash, New York Style, Ortega,
Pirate’s Booty, Polaner, SnackWell’s, Spice Islands and
Victoria, there’s a little something for everyone. For more
information about B&G Foods and its brands, please visit
www.bgfoods.com.
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