Red Robin board reaffirms plan to buy back stock
Red Robin Gourmet Burgers board reaffirms plan to repurchase up to $50 million in common stock
May 29, 2008: 09:03 AM EST
NEW YORK (Associated Press) - Red Robin Gourmet Burgers Inc., a restaurant chain operator, on Thursday reaffirmed its plans to repurchase up to $50 million in common stock.
Based on Wednesday's closing price of $33.26, Red Robin would be able to purchase about 1.5 million common shares.
Red Robin currently has about 16.8 million shares of common stock outstanding.
Red Robin's board initially approved the plan to repurchase stock in August 2007.
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