Briggs & Stratton Expands And Extends Stock Buyback Program

(RTTNews) - Briggs & Stratton Corp. (BGG) said Wednesday that its Board of Directors has authorized an additional $50 million in funds for use in the company's share repurchase program and an extension of the expiration date to June 30, 2016.

Share repurchases, among other things, allow the company to offset any potentially dilutive impacts of share-based compensation under the Briggs & Stratton Incentive Compensation Plan.

Since August 2011, the company has repurchased about $93 million of its outstanding common shares while remaining committed to improving its financial position and investing in strategic initiatives.

Including the additional $50 million authorization announced Wednesday, the total remaining authorization as of January 22 is about $57 million.