United Natural Foods authorizes $200M share repurchase program
United Natural Foods announced that its Board of Directors authorized the initiation of a $200M share repurchase program. Repurchases of the Company's outstanding common stock will be made in accordance with applicable securities laws and may be made at management's discretion from time to time in the open market, through privately negotiated transactions or otherwise, including pursuant to Rule 10b5-1 trading plans. The company intends to fund the program with a combination of cash on hand, cash generated from operations and borrowings under the company's credit facility. The company had approximately 50.6 million shares of common stock outstanding as of September 14. The share repurchase program is scheduled to expire upon the company's repurchase of shares of the company's common stock having an aggregate purchase price of $200M. The share repurchase program may be amended, suspended or discontinued at any time at the company's discretion and does not commit the Company to repurchase shares of its common stock.