Natural Grocers by Vitamin Cottage Announces $10 Million Share Repurchase Program
Natural Grocers by Vitamin Cottage, Inc.’s board of directors has authorized a new two-year program to repurchase up to $10 million in shares of the company’s common stock.
Repurchases under the company’s new program will be made from time to time at management’s discretion on the open market or through privately negotiated transactions in compliance with Securities and Exchange Commission Rule 10b-18, subject to market conditions, applicable legal requirements and other relevant factors. Repurchases of common stock may also be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when the company might otherwise be precluded from doing so under insider trading laws. The share repurchase program does not obligate the company to purchase any particular amount of common stock and may be suspended, modified or discontinued by the company without prior notice.
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The company had approximately 22.5 million shares of common stock outstanding as of May 5, 2016. The company expects to finance the share repurchase program through borrowings under its revolving credit facility.
