GREENVILLE, S.C.-Delta Apparel’s board of directors approves a new stock repurchase program for the repurchase of as much as $10 million of the company’s outstanding common stock.
The change brings the total amount authorized under the repurchase program to $50 million. Delta says it has repurchased roughly 2.59 million shares to date at a cost of approximately $38.7 million. The increase leaves the company with an estimated $11.3 million for share repurchases.
“This additional authorization reflects our board of directors’ continued confidence in our diversified business model and the strength of our balance sheet,” says Robert W. Humphreys, CEO of Delta Apparel. “This action also underscores our commitment to creating value for our shareholders as we execute on our growth strategies.”
The announcement is the latest financial disclosure by the company. In early Aug. 2017, Delta reported its earnings for fiscal third-quarter.
For more information, visit https://www.deltaapparel.com/.