arctic set for 20 million share buyback

Cat's board of directors announced this week that it has authorized up to $20 million of its common stock to be bought back. The repurchase program can be made through open market or privately negotiated transactions. The board says the timing of share buy-backs will depend on market conditions and other corporate considerations.

"This share repurchase program supports the company's commitment to increase shareholder value and reflects our belief that the stock represents a good investment opportunity," said Arctic Cat's Chairman and CEO, Christopher A. Twomey.

The $20 million program is in addition to $6.8 million remaining under Cat's previous share repurchase program. Since 1996 the company has bought back more than 11 million common shares. Cat has approximately 19.3 million common and Class B common shares outstanding. You can find Cat being traded on the Nasdaq under the ticker symbol "ACAT."