The American Outdoor Brands, Inc. Board of Directors has approved the repurchase of up to $10 million of the company’s outstanding common stock commencing on October 1, 2024, and ending on September 30, 2025.
The company said in a media release that the program follows the company’s prior share repurchase program, which authorized the company to repurchase up to $10.0 million of its common stock, was initiated in 2023 and, as of September 24, 2024, resulted in 412,735 shares repurchased at an average price of $8.70 per share, or roughly $3.6 million in the aggregate.
Company President and CEO Brian Murphy, said, “Today’s announcement conveys our board’s continued confidence in our business and dedication to stockholder value creation. Given our strong, debt-free balance sheet, we maintain our commitment to effective capital allocation, prioritizing our investments in growth, both organically and through opportunistic and accretive M&A activity, while maintaining our commitment to returning capital to our stockholders.”
AOUT said shares may be repurchased from time to time on the open market, in block trades, or in privately negotiated transactions. The amount and timing of any shares repurchased under the program will be determined at the discretion of management and will depend on a number of factors, including the market price of the company’s stock, trading volume, general market and economic conditions, the company’s capital position, legal requirements, and other factors. The repurchase program does not obligate the company to acquire any particular number of shares, and the repurchase program may be discontinued at any time at the company’s discretion.
