Smith & Wesson Brands, Inc. announced that its Board of Directors has authorized the repurchase of up to $50 million of the company’s common stock through September 19, 2024.
Mark Smith, chief executive officer, said, “With the bulk of our investment in the move of our headquarters and significant elements of our operations to Tennessee soon coming to an end, we intend to rebalance our capital allocation strategy towards returning excess capital to our stockholders. This stock repurchase program is a key element of that strategy.”
The amount and timing of any repurchases will depend on a number of factors, including price, trading volume, general market conditions, legal requirements, and other factors. The repurchases may be made on the open market, in block trades, or in privately negotiated transactions.
Photo courtesy Smith & Wesson
