MarineMax To Buy Back Up To $100 Mln Of Shares

(RTTNews) - Recreational boats and yachts dealer MarineMax, Inc. (HZO), Monday said it has been authorized to repurchase up to $100 million of shares during the period March 11, 2024 - March 31, 2026.

"The company intends to repurchase shares to mitigate the dilutive effect of restricted stock, and shares repurchased may be reserved for later reissue in connection with employee benefit plans and other general corporate purposes," MarineMax said.

This plan replaces the March 2020 plan, as amended, which authorized the repurchase of up to 10 million shares and which was set to expire on March 31, 2024.

Around 1,080,000 shares had been repurchased under the 2020 plan as of March 5, 2024.

As of March 5, 2024, the company had 22,299,588 shares outstanding.