Build-A-Bear Workshop Inc. (BBW) has announced that its board has approved a new share repurchase program with an allocation of up to $100 million. This program permits the company to buy back shares until September 30, 2028.
The company has also declared a quarterly cash dividend of $0.20 per share on its issued and outstanding common stock. This dividend will be distributed on October 10, 2024, to stockholders of record as of September 26, 2024.
Previously, on August 30, 2022, the Board of Directors had authorized a $50 million stock repurchase initiative. As of September 11, 2024, the company had expended approximately $44 million of that program to repurchase over 1.9 million shares at an average price of $23.05 per share. The Board has since terminated this prior repurchase program in favor of the newly adopted one.
