Business

Brunswick Corp. restarts stock repurchase program

Posted September 07, 2020 11:00 pm

METTAWA - Brunswick Corp. Tuesday announced the restart of its share repurchase program. The share repurchase program had been suspended earlier this year due to the uncertainty related to the COVID-19 pandemic.

Prior to the suspension, the company had completed roughly one-third of its $100 million target planned for the year. This is in addition to the $400 million of share repurchases the company completed in 2019.

Today's announcement comes just weeks after Brunswick revealed the repayment of the remaining $85 million balance of its revolving line of credit, resulting in enhanced liquidity and financial flexibility.

"Entering September, we continue to see a very healthy marine market, which is driving the strong cash flow performance of our business. We believe that resuming this element of our capital plan offers a tremendous opportunity to drive and increase shareholder value," said Ryan Gwillim, Brunswick's chief financial officer.

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