|
|
Article: Royal Appliance Announces New Stock Repurchase Program.
- Article from:
- PR Newswire
- Article date:
- October 20, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
CLEVELAND, Oct. 20 /PRNewswire/ -- Royal Appliance Mfg. Co. (NYSE: RAM), maker of Dirt Devil(R) floor care products, reported today a program to purchase an additional 4.1 million shares representing approximately 20% of its Common Shares. As previously disclosed, the Company repurchased 1.2 million shares in 1997 and recently completed an additional 2.3 million Repurchase program in October 1998. The Company, which has approximately 20.6 million shares outstanding, anticipates the current program ending by December 31, 1999.
Michael J. Merriman, Chief Executive Officer, commented that, "The Board of Directors has a long-term view of the Company and its ...