MINNEAPOLIS (AP) ¿ Food distributor Nash Finch Co. on Thursday approved a stock buyback of as much as $25 million and declared a dividend of 18 cents.
Nash Finch said the share repurchase will start as early as Monday, and ending by Dec. 31, 2010. The company had 12.8 million shares on the market as of Nov. 5.
The dividend is payable Dec. 4 to shareholders of record as of Nov. 20.
Nash Finch also reported its profit nearly tripled in the third quarter as it recorded a gain from a lawsuit settlement. The company's stock finished Wednesday's trading at $29.73.