The company repurchased approximately 883,000 shares of its common stock in the fourth quarter of 2012 at an average price of $26.15 per share for an aggregate cost of $23.1 million. In October 2012, the company repurchased approximately 985,000 shares of its common stock at an average price of $27.26 per share for an aggregate cost of $26.9 million, leaving $50.0 million remaining under a $100 million stock-buyback program authorized by the company’s board of directors in November 2011 that expires in November 2013. In November 2012, the company’s board of directors authorized an additional $100 million stock-buyback program that expires in November 2014.Earlier this month, the company announced the completion of a new five-year $600 million senior credit facility, comprised of a $400 million revolving credit facility and a $200 million term loan. Under the terms of the new agreement, the interest rate has been lowered by 50 basis points and can range from LIBOR plus 175 to 225 basis points with no floor, with the current spread at 200 basis points. The agreement also provides for up to $500 million for stock repurchases and the potential payment of cash dividends.
Jack In The Box Inc. Reports Fourth Quarter FY 2012 Earnings; Issues Guidance For FY 2013; Updates Long-term Goals
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