Cabela’s Inc.'s board of directors approved a share repurchase program authorizing the company to repurchase up to $500 million of its common stock over a two-year period. This authorization is in addition to the two million share repurchase authorization approved in April 2015 and the standing annual authorization to repurchase shares to offset dilution resulting from equity-based awards issued under the company’s equity compensation plans. The company has completed its repurchases under the April 2015 authorization.
“Our strong balance sheet allows us to authorize the $500 million repurchase program,” said Tommy Millner, Cabela’s CEO. “The Board’s authorization reaffirms our confidence in the strength of our business and future prospects and commitment to maximizing shareholder value.”
The timing and volume of share repurchases may be executed at the discretion of management on an opportunistic basis, or pursuant to trading plans or other arrangements. Any share repurchase under this program may be made in the open market, in privately negotiated transactions, or otherwise.