Winnebago Industries Announces New $200 Million Share Repurchase Authorization
October 13 2021 - 4:45PM
Winnebago Industries, Inc. (NYSE:WGO), a leading outdoor lifestyle
product manufacturer, today announced that the company’s Board of
Directors authorized a new share repurchase authorization of up to
$200 million of the company’s common stock. The share repurchase
authorization replaces the previous $70 million share repurchase
program.
President and Chief Executive Officer Michael Happe commented,
“This share repurchase authorization is the largest in Winnebago
Industries’ history and reflects our confidence in the business,
our strong cash generation ability and commitment to creating value
for shareholders. Additionally, we recently announced a 50%
increase in our quarterly dividend in August, further exemplifying
the optimism we have in our future performance. By continuing to
grow revenues, gain market share, drive enhanced levels of
profitability and cash flow, we have the opportunity to pass these
successes to our shareholders in the form of higher dividends and
share repurchase, all while continuing to emphasize our organic and
inorganic growth imperatives and maintain a strong, healthy balance
sheet.”
Winnebago Industries may make purchases under the repurchase
program from time to time in the open market or through negotiated
transactions, including block purchases or private transactions,
accelerated share repurchase programs, Rule 10b5-1 plans and such
other means and facilities, at such prices and in such amounts. The
actual timing, number, manner, and value of any shares repurchased
under the repurchase program will be determined by management and
will depend on several factors, including the market price of our
common stock, general market and economic conditions, our liquidity
requirements, applicable legal requirements, and other business
considerations. The repurchase program has no termination date and
does not obligate Winnebago Industries to acquire any number of
shares in any specific period, or at all, and may be suspended or
discontinued at any time at our discretion.
About Winnebago IndustriesWinnebago Industries, Inc. is a
leading North American manufacturer of outdoor lifestyle products
under the Winnebago, Grand Design, Chris-Craft, Newmar and Barletta
brands, which are used primarily in leisure travel and outdoor
recreation activities. The Company builds quality motorhomes,
travel trailers, fifth-wheel products, pontoons, inboard/outboard
and sterndrive powerboats and commercial community outreach
vehicles. Winnebago Industries has multiple facilities in Iowa,
Indiana, Minnesota and Florida. For access to Winnebago Industries'
investor relations material or to add your name to an automatic
email list for Company news releases, visit
http://investor.wgo.net.
Contact: Steve Stuber - Investor Relations - 952-828-8461 -
srstuber@wgo.netMedia Contact: Chad Reece - Public Relations -
641-585-6647 - creece@wgo.net
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