Red Robin Gourmet Burgers Inc. announced that during the board of directors meeting on May 28, 2008, the board reaffirmed its intent, as previously announced in a press release dated August 16, 2007, to repurchase up to $50 million of the Company’s common stock. Stock repurchases may be made from time to time in open market transactions and through privately negotiated transactions.
The Company currently has approximately 16.8 million shares of common stock outstanding. On May 28, 2008, the Company’s stock closed at $33.26 per share.
