MarineMax, MasterCraft plan stock repurchase programs
MarineMax and MasterCraft have both announced plans for stock repurchases.
MarineMax, Inc., the nation’s largest recreational boat and yacht retailer, announced Monday that its Board of Directors has approved a new share repurchase plan authorizing the Company to repurchase up to 1.25 million shares of its common stock during the period from Monday through February 28, 2018.
The new repurchase plan replaces the April 2015 plan which authorized the repurchase of up to 1.0 million shares of which 772,716 shares had been repurchased. Under the new plan, the Company may purchase common stock from time to time in the open market or in privately negotiated block purchase transactions.
MCBC Holdings, Inc., the parent of MasterCraft Boat Company, announced Friday that its board of directors has authorized share repurchase activities as well.
The MCBC board has authorized an up to $15 million stock repurchase program under which the company may repurchase common shares from time to time in open-market purchases, accelerated share repurchase transactions or privately negotiated transactions, in each case subject to market conditions and other factors. The stock buyback program is effective immediately and may be utilized through the end of fiscal year 2017.
