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Article: Furniture Brands International Authorizes Additional Common Stock Repurchases.
- Article from:
- Business Wire
- Article date:
- September 27, 1999
CopyrightCOPYRIGHT 1999 Business Wire. 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)
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ST. LOUIS--(BUSINESS WIRE)--Sept. 27, 1999--
The Board of Directors of Furniture Brands International, Inc. (NYSE:FBN) announced today that it has authorized the repurchase of an additional $50 million of its outstanding common stock over the next twelve months.
This new authorization is in addition to the $30 million in share repurchase authority originally announced in October 1998, and the $25 million in additional authority announced in March 1999. Pursuant to these prior authorizations the company has spent $54.2 million to repurchase 2.7 million shares of its common stock at an average per share price of $19.73.
The timing and amounts ...