Franklin Covey Co., the Salt Lake City-based time management and seminar company, said its board of directors has approved a stock repurchase program.
The company said it intends to repurchase up to $10 million of its outstanding shares.
Shares repurchases may be made time to time through open market transactions, block trades or privately negotiated transactions and are subject to market conditions, as well as corporate, regulatory and other considerations, the company said.
Such stock repurchase programs generally are viewed as a favorable development for shareholders since they reduce the number of a company’s outstanding shares.
Franklin Covey has about 17.8 million shares outstanding.
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