On May 29, 2008, the Company announced 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. The stock repurchase is expected to add approximately $0.06 to diluted earnings per share in fiscal 2008.
Red Robin Gourmet Burgers Inc. today announced the completion of the repurchase of $50 million of the Company’s common stock. The Company repurchased a total of 1,480,763 shares at an average purchase price of $33.76 per share.
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