SAN DIEGO--(BUSINESS WIRE)--Sep. 21, 2015--
Jack in the Box Inc. (NASDAQ: JACK) today announced that its Board of
Directors has authorized an additional $200 million stock buyback
program commencing in fiscal year 2016 and expiring in November 2017.
During fiscal year 2015, the company repurchased approximately 3,743,000
shares at an average price of $84.71 per share, for an aggregate cost of
$317.1 million, including $65.5 million in the fourth quarter of fiscal
2015. This completed a $100 million stock buyback program authorized by
the company’s Board of Directors in May 2015.
Lenny Comma, chairman and chief executive officer, said, “Over the last
five years, we have demonstrated our commitment to returning our growing
free cash flow to shareholders through the purchase of $1 billion in
stock and the initiation of a dividend in 2014. The additional
authorization coupled with the 50 percent increase in our dividend
announced in May underscores the confidence both the management team and
our Board of Directors have in our business model and growth plans. The
amendment to our credit facility that was announced in July also
provides us with more than $400 million of additional borrowing capacity
to support our strategic priorities and comfortably maintain leverage
within a 2 to 3 times range.”
About Jack in the Box Inc.
Jack in the Box Inc. (NASDAQ: JACK), based in San Diego, is a restaurant
company that operates and franchises Jack in the Box® restaurants,
one of the nation’s largest hamburger chains, with more than 2,200
restaurants in 21 states and Guam. Additionally, through a wholly owned
subsidiary, the company operates and franchises Qdoba Mexican Grill®,
a leader in fast-casual dining, with more than 600 restaurants in 47
states, the District of Columbia and Canada. For more information on
Jack in the Box and Qdoba, including franchising opportunities, visit www.jackinthebox.com
or www.qdoba.com.
Safe harbor statement
This press release contains forward-looking statements within the
meaning of the federal securities laws. Such statements are subject to
substantial risks and uncertainties. A variety of factors could cause
the company’s actual results to differ materially from those expressed
in the forward-looking statements, including the following: the success
of new products and marketing initiatives; the impact of competition,
unemployment, trends in consumer spending patterns and commodity costs;
the company’s ability to achieve and manage its planned growth, which is
affected by the availability of a sufficient number of suitable new
restaurant sites, the performance of new restaurants, and risks relating
to expansion into new markets; and stock market volatility. These and
other factors are discussed in the company’s annual report on Form 10-K
and its periodic reports on Form 10-Q filed with the Securities and
Exchange Commission which are available online at http://investors.jackinthebox.com
or in hard copy upon request. The company undertakes no obligation to
update or revise any forward-looking statement, whether as the result of
new information or otherwise.
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Source: Jack in the Box Inc.
Jack in the Box Inc.
Investor Contact:
Carol DiRaimo,
858-571-2407
or
Media Contact:
Brian Luscomb,
858-571-2291