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Texas Roadhouse OKs Stock Buyback Program, Authorizes Payment Of Cash Dividend - up 1% in Pre-Market Trade

Texas Roadhouse OKs Stock Buyback Program, Authorizes Payment Of Cash Dividend - up 1% in Pre-Market Trade

The board of directors at restaurant chain Texas Roadhouse (TXRH) has approved a stock repurchase program under which it has authorized the company to repurchase up to $100 million of its common stock. The company said that any repurchases would be made through open market transactions. The board of directors cancelled the previous stock repurchase program which had no expiration date. The company also announced that it had authorized the payment of a quarterly cash dividend of $0.15 per share of common stock. This payment is to be distributed on July 3, 2014, to shareholders of record at the close of business on June 18, 2014. Texas Roadhouse's first restaurant opened in 1993 in Clarksville, Indiana. Today it operates more than 425 restaurants in 48 states and three foreign countries.

Texas Roadhouse OKs Stock Buyback Program, Authorizes Payment Of Cash Dividend - up 1% in Pre-Market Trade