Callaway Golf Plans To Repurchase $50 Million In Common Stock
“Callaway Golf Company announced today that the Board of Directors has authorized the Company to repurchase up to an additional $50.0 million of the Company’s common stock in open market or in private transactions.”
A dividend was also declared — $0.07 per share.
Callaway Golf Company sure isn’t doing too shabby. When you’re Board of Directors agree to buy back stock, sales must be good. Not only that, but they announced a dividend of $0.07 per stock. I’m sure Phil’s winning of the Masters boosted Callaway’s sales ten fold. Now everyone must have two Callaway Fusion drivers in their bags. I think that’s a brilliant marketing ploy. Everyone wants an extra driver in their bag and it helped Phil win the Masters. It’s a win-win situation for Callaway and they’re taking it straight to the bank.