MarineMax Extends Stock Repurchase Program
01 Março 2022 - 10:30AM
Business Wire
MarineMax, Inc. (NYSE: HZO), the world’s largest recreational
boat and yacht retailer, today announced that its Board of
Directors approved an extension of its previously announced stock
repurchase plan authorizing the Company to repurchase up to a total
of 10 million shares of its common stock during the period ending
March 31, 2024. The new repurchase plan extends the March 2020
plan, which authorized the repurchase of up to 10 million shares
through March 31, 2022, of which approximately 700,000 shares had
been repurchased as of February 24, 2022. Under the plan, the
Company may purchase common stock from time to time in the open
market or in privately negotiated block purchase transactions.
The amount and timing of any purchases will depend upon a number
of factors, including the price and availability of the Company's
stock and general market conditions. The Company intends to
repurchase shares to mitigate the dilutive effect of restricted
stock and shares repurchased may be reserved for later reissue in
connection with employee benefit plans and other general corporate
purposes.
As of February 9, 2022, the Company had 21,884,062 shares of
common stock outstanding.
About MarineMax MarineMax is the world’s largest
recreational boat and yacht retailer, selling new and used
recreational boats, yachts and related marine products and
services, as well as providing yacht brokerage and charter
services. MarineMax has over 100 locations worldwide, including 79
retail dealership locations, which includes 31 marinas or storage
operations. Through Fraser Yachts and Northrop and Johnson, the
Company also is the largest super-yacht services provider,
operating locations across the globe. Cruisers Yachts, a MarineMax
company, manufactures boats and yachts with sales through our
select retail dealership locations and through independent dealers.
Intrepid Powerboats, a MarineMax company, manufactures powerboats
and sells through a direct-to-consumer model. MarineMax provides
finance and insurance services through wholly owned subsidiaries
and operates MarineMax Vacations in Tortola, British Virgin
Islands. The Company also operates Boatyard, a pioneering digital
platform that enhances the boating experience. MarineMax is a New
York Stock Exchange-listed company (NYSE: HZO). For more
information, please visit www.marinemax.com.
Forward Looking Statement
Certain statements in this press release are forward-looking as
defined in the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements include those regarding the
Company’s potential repurchases of its common stock. These
statements involve certain risks and uncertainties that may cause
actual results to differ materially from expectations as of the
date of this release. These risks include significant changes in
the price and availability of the Company’s stock, general economic
conditions, as well as those within our industry, and numerous
other factors identified in the Company’s Form 10-K for the fiscal
year ended September 30, 2021 and other filings with the Securities
and Exchange Commission. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20220301005255/en/
Investors: Michael H. McLamb Chief Financial Officer
727-531-1700
Brad Cohen or Dawn Francfort ICR, LLC
investors@marinemax.com
Media: Abbey Heimensen Abbey.Heimensen@marinemax.com
MarineMax, Inc.
MarineMax (NYSE:HZO)
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