Wingstop To Repurchase Up To $250.0 Mln Of Stock

(RTTNews) - Wingstop Inc. (WING) said that its board approved to repurchase up to $250.0 million of its outstanding shares of common stock, effective immediately.

Repurchases under the program may be made in the open market, in privately negotiated transactions or by other means, the company said in a statement.

Wingstop expects to fund repurchases with a combination of existing cash and cash equivalents and cash flows from operations. As of July 1, 2023, Wingstop had cash and cash equivalents of $188.5 million.

Founded in 1994 and headquartered in Dallas, TX, Wingstop operates and franchises more than 2,000 locations worldwide.