Clayton Homes Expands Repurchase Program.Business Editors KNOXVILLE, Tenn.--(BUSINESS WIRE)--April 19, 2000 A 15 million share stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program was approved by the Board of Directors of Clayton Homes Inc. (NYSE NYSE See: New York Stock Exchange CMH CMH Center of Military History CMH Commission on Macroeconomics and Health CMH Chief of Military History CMH Children's Memorial Hospital CMH Ceramic Metal Halide (General Electric light source) CMH Congressional Medal of Honor ) at its regularly scheduled meeting today. The Company completed a 6.25 million share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. authorization in February 2000. The Board of Directors authorized 5 million shares in July of 1999, and 3.9 million shares are available from that authorization. Clayton Homes, Inc. is a leading vertically integrated company in the manufactured housing industry. It also operates 76 manufactured-home communities and provides a variety of financial services to home buyers. Clayton Homes, which operates in 32 states, is headquartered in Knoxville, Tennessee and employs 7300 people nationwide. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion