Twin River announces approval of $250M stock repurchase program

LINCOLN – Twin River Worldwide Holdings Inc.’s board of directors approved a capital return program that authorizes repurchasing up to $250 million in stock, the company announced Friday.

The company indicated there is no set timeline for its repurchase program.

The company’s board also approved the initiation of a payment of 10-cent-per-share-of-common-stock quarterly dividend, the company said.

In a separate announcement, the company reported that it had filed a registration statement with the Securities and Exchange Commission relating to a possible underwritten secondary offering of its common stock by Twin River shareholders. Twin River is not offering any shares of its common stock in the offering and will not receive any proceeds from the offering if completed.

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As part of that potential program, Twin River would be allowed to purchase a portion of the offered shares.