Windham Worldwide Announces New $200 Million Share Repurchase Program
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Windham Worldwide Announces New $200 Million Share Repurchase Program
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Category: Worldwide
This is a press release selected by our editorial committee and published online for free on 2007-08-21
Wyndham Worldwide (NYSE: WYN) today announced that its Board of Directors has authorized a new stock repurchase program that enables the Company to purchase up to $200 million of its common stock. The amount and timing of specific repurchases are subject to market conditions, applicable legal requirements and other factors. Repurchases may be conducted in the open market or in privately negotiated transactions.
"We strongly believe Wyndham Worldwide stock has been an attractive value since last August as demonstrated through our purchase of approximately 25 million shares, valued at over $800 million, since that time," said Stephen P. Holmes, Wyndham Worldwide chairman and chief executive officer. "We have a great deal of confidence in our business, and are committed to maintaining a prudent capital structure and the flexibility to continue executing on our strategic objectives while creating shareholder value."
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