By Stephen Nakrosis
Grocery Outlet Holding said Tuesday its board approved a new share repurchase plan, for up to $100 million of the company's common stock.
The new plan replaces the company's previous share buyback, which was launched in 2021 and which had a remaining authorization of $9.4 million. The new plan is effective immediately and doesn't have an expiration date.
The grocery retailer saw its shares rise 5% in Tuesday's after-hours market, to $15.35. The stock closed the day's regular session with a gain of just over 1%, finishing at $14.56.
Grocery Outlet Holding has a market cap of $1.41 billion, 97.99 million shares outstanding and a public float of 93.52 million shares.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
November 05, 2024 17:58 ET (22:58 GMT)
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