MarineMax issues stock buyback plan

Publish date:

The MarineMax board of directors approved a new stock repurchase plan authorizing the company to repurchase as many as 2 million shares of its common stock through Sept. 30, 2019.

The new repurchase plan follows a February 2016 plan that authorized the repurchase of as many as 1.25 million shares; 1.14 million shares have been repurchased.

Under the new plan, the company can purchase common stock from time to time in the open market or in privately negotiated block purchase transactions.

The amount and timing of any purchases will depend on a number of factors, including the price and availability of the company's stock and general market conditions, MarineMax said in a statement.

The company said it intends to repurchase shares to mitigate the dilutive effect of stock options; shares that are repurchased may be reserved for later reissue in connection with employee benefit plans and other general corporate purposes.

As of July 31, MarineMax had 23,735,432 shares of common stock outstanding.


Caught Red-Handed

Two commercial fishermen were jailed for possessing an illegal haul that included 100 undersized lobster tails, which is a felony. Also, fisheries management gets new funding.

Bennington Expands Operations

The pontoon builder plans to add jobs at its new facility in Elkhart County, Ind., and increase manufacturing output.

KVH Industries Names CFO

Longtime telecom financial executive Roger A. Kuebel assumes the position that COO Brent Bruun had held in an interim capacity.

Quick Hits: March 4, 2021

Today at 4pm: Intrepid Powerboats celebrates president Ken Clinton’s 30th anniversary with a Facebook Live Q&A.

Sustainability at Navico

The electronics giant recently shifted to 100 percent recyclable packaging and appointed its first chief sustainability officer.

Soundings Trade Only hosts ‘Pitch the Pros’

The one-hour virtual sessions this week featured 18 companies that introduced products and technologies to more than 530 attendees.