News

Krispy Kreme expands share repurchase program

September 18, 2014

Krispy Kreme's board of directors has increased the company's current share repurchase program from $80 million to $105 million. The current authorization was originally approved by the board in July 2013, and was increased from $50 million to $80 million earlier this year, according to a news release.

Including the increase announced today, there is approximately $50 million remaining for future purchases under the program.

"We view this additional repurchase authorization as an affirmation of our positive outlook for the future," Chairman James H. Morgan said in the release. "We are confident we have the capital resources to continue to implement and expand the scope of our systemwide growth plans. While we always seek to first deploy cash to grow the business, we will complement that usage, as appropriate, with other means of increasing shareholder value."