Swimming pool distributor Pool (NASDAQ:POOL) said today that its board of directors has authorized an additional $100 million under its existing share repurchase program that was originally authorized in August 2012.
As of October 25, the buyback program had $31.5 million remaining available on it. In the third quarter, Pool repurchased 0.8 million shares at an average price of $53.19 per share.
The board also also announced that it would pay its quarterly cash dividend of $0.19 per share that will be payable on November 27 to holders of record at the close of business on November 13.
Headquartered in Covington, La., Pool is the largest wholesale distributor of swimming pools and related backyard products and operates 323 sales centers in North America and Europe.