The board of directors of Atlanta-based AFC Enterprises, the franchisor and operator of Popeyes Chicken & Biscuits, Church’s Chicken, Cinnabon, Seattle’s Best Coffee and Torrefazione Italia Coffee, has approved a share repurchase programme of up to US$50m, effective immediately.
Go deeper with GlobalData
The open-ended programme will allow the company to repurchase its shares on the open market from time to time in accordance with the requirements of the Securities and Exchange Commission (SEC).
Chairman and CEO Frank Belatti said: “By almost any comparison we believe AFC is a high performing, yet undervalued company. AFC has consistently demonstrated its ability to deliver strong sustainable earnings growth, driven by its solid business model and strategy.
“We believe we will continue to deliver a 25% EPS growth rate and remain comfortable with consensus earnings estimates of US$0.4 per share for the Q2 2002, and US$1.72 per share for the FY.
“The repurchase programme clearly signals our confidence in our ability to deliver value to our loyal shareholders.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
