The board of directors at Nu Skin Enterprises, Inc. has authorized a $250 million extension to the company’s ongoing share repurchase authorization. The newly authorized funds will be used to repurchase company stock on the open market and in private transactions. The $250 million share repurchase authorization adds to the $80 million remaining from the prior repurchase authorization.
“As we build on another record quarter and continue to generate strong results from the global roll out of our ageLOC anti-aging products, we are optimistic about the future of our business,” said Ritch Wood, chief financial officer. “We have used our financial strength in the past to repurchase shares, and it makes sense to increase share repurchase activity at this point in time to benefit our shareholders.”
In other news, Nu Skin declared a quarterly dividend of $0.20 per share, which will be paid on June 13, 2012, to stockholders of record on May 25, 2012.