MIAMI — Burger King Holdings Inc. has announced that its board of directors has authorized the repurchase of up to $200 million of the company's common stock. The share repurchases will be made in the open market prior to Dec. 31, 2010, and will be funded from available cash. The amount and timing of the repurchases will be determined by the company's management.
The share repurchases may be suspended or discontinued at any time. Shares of common stock repurchased under the plan will be deposited into treasury and retained for possible future use.
The company's previous $100 million stock repurchase plan expired as of Dec. 31, 2008. The company also announced that its board of directors has declared a quarterly dividend of 6 cents per share of common stock. The dividend is payable on March 30, 2009, to shareholders of record at the close of business March 16.
