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Dunkin' Brands board approves $250M share buyback

Dunkin' Brands Group Inc. said May 22 that its board of directors approved a share repurchasing program for up to $250 million of the quick-service restaurant operator's common stock.

The owner of the Dunkin' Donuts and Baskin-Robbins brands said the authorization is valid for two years, with share buybacks to be made from time to time on the open market or through privately negotiated transactions.

The move follows Dunkin' Brands' February agreement for an accelerated share repurchase program to buy back an aggregate of $650 million of its outstanding common stock, through which it received an initial delivery of approximately 8.5 million shares. Final settlement for that program is expected to be completed in August.