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Vail Resorts Ups Stock Buyback Goal

BROOMFIELD, CO-A day after watching its share price hit a new low, the mountain resort operator re-ups its repurchase program.

By Brian K. Miller | Updated on July 17, 2008

BROOMFIELD, CO-Publicly traded Vail Resorts Inc. on Thursday announced a 3 million-share increase its stock repurchase program. The move comes one day after the mountain resort operator’s share price hit a 52-week low.

Vail Resort already has been busy buying back its shares. Over the past 40 days the company has acquired 40% (1.2 million shares) of a previous 3 million-share buyback program launched more than two years ago. The 284,218 shares remaining under the previous share repurchase program are being tacked onto the new program.

The recently acquired shares were purchased for an average price of $39.40. In late afternoon trading Thursday, the company’s share price stood at $37.35, up 4.4% ($1.58) on the day.

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