Rocky Mountain Chocolate to Buy Stock

By Associated Press
February 19, 2008 | Comments (0)

Recs

0

Panic 2008... Profit 2009!

Fool -- Now's the time to invest! David and Tom Gardner's new book reveals their strategy for million dollar wealth.

Buy Now!

Durango-based Rocky Mountain Chocolate Factory says its board is authorizing the repurchase of about 3 million dollars in stock.

The confectionery products manufacturer also said Tuesday its board has declared a fourth-quarter cash dividend of 10 cents a share. It will be payable March 14th to shareholders of record on February 29th.

Chief Financial Officer Bryan Merryman says the board's decision came in light of a pullback in the stock price of late. The company also recently completed a 5-million-dollar stock repurchase program at an average share price of $12.13.

Rocky Mountain Chocolate Factory's stock rose 45 cents a share or 4 percent to $11.80 a share in Tuesday afternoon trading.

In the past year, the stock has ranged from $10.45 to $18.04 a share.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

DocumentId: 580390, ~/articles/articlehandler.aspx, 1/7/2009 2:24:03 PM

Sign up for FREE Motley Fool site access!

Already registered? Login Here

It’s FREE! Enter your email address, and we’ll rush you to the article you're looking for right now.

Privacy / Legal Information

We will use your email address only to keep you informed about updates to our web site and about other products and services that we think might interest you. The Motley Fool respects your privacy. Please read our Privacy Statement

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.