Corporate and Financial
Brunswick Announces Stock Repurchase Authorization
LAKE FOREST, Ill., May 4 /PRNewswire-FirstCall/ -- Brunswick Corporation
(NYSE: BC) today announced that its board of directors has authorized the
discretionary repurchase of up to $200 million of the company's outstanding
common stock. Based on market conditions, share repurchases will be made from
time-to-time in the open market or through privately negotiated transactions.
"The success of our customer-led strategy, combined with our emphasis on
operational excellence and financial discipline, have produced substantial and
improving returns for our shareowners these past few years," said George W.
Buckley, Brunswick chairman and chief executive officer. "The authorization
for the repurchase of common stock reflects our confidence in Brunswick's
future prospects. It also allows us another means for returning capital to
shareholders over the coming years."
"For the foreseeable future, strategic acquisitions and developing new
products will continue to be the thrust of our reinvestment of free cash
flow," Buckley elaborated. "However, we will balance such opportunities with
the repurchase of our stock, always with the objective of enhancing
shareholder value."
About Brunswick
Headquartered in Lake Forest, Ill., Brunswick Corporation endeavors to
instill "Genuine Ingenuity"(TM) in all its leading consumer brands, including
Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and
inboard engines; MotorGuide trolling motors; Teignbridge propellers; MotoTron
electronic controls; Northstar marine electronics; Navman marine and GPS-based
products; IDS dealer management systems; Sea Ray, Bayliner, Maxum, Hatteras,
Meridian, Sealine, Bermuda, Ornvik, Quicksilver, Savage and Uttern pleasure
boats; Baja high-performance boats; Albemarle, Arvor, Boston Whaler, Palmetto,
Sea Boss, Sea Pro and Trophy offshore fishing boats; Crestliner, Lowe, Lund
and Princecraft aluminum fishing, deck and pontoon boats; Attwood marine parts
and accessories; Land 'N' Sea marine parts and accessories distributor; Life
Fitness, Hammer Strength and ParaBody fitness equipment; Brunswick bowling
centers, equipment and consumer products; Brunswick billiards tables; and
Valley-Dynamo pool, Air Hockey and foosball tables. For more information,
visit http://www.brunswick.com .
SOURCE Brunswick Corporation
CONTACT: Dan Kubera, Director - Public and Financial Relations of
Brunswick Corporation, 1-847-735-4617
Web site: http://www.brunswick.com
