CKE sets $50MM stock repurchase limit

CKE sets $50MM stock repurchase limit
Tags: Burger/Steak/BBQ
July 23, 2006

CARPINTERIA, Calif. — CKE Restaurants Inc. said it is expanding its program for repurchasing shares of the company's outstanding stock.

The company's board increased its stock repurchase program by $30 million for a new limit of $50 million.

The company's stock repurchase program was initially put into effect April 13, 2004, with a limit of $20 million.

"We believe that the buy-back of our shares remains an attractive opportunity for the company, is a good investment of corporate funds and is in the best interests of our stockholders," said Andrew Puzder, the company's president and chief executive officer.