What was the average price paid per share for Benihana stock purchased in October 2022?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
rrently intend to retain our earnings to finance our growth.
Issuer Purchases of Equity Securities
On September 7, 2022, the Company announced a repurchase program of up to $10.0 million of outstanding common stock, which program terminates in September 2024. The table below sets forth information with respect to share repurchases under the program in the fourth quarter of 2022. We purchased an additional 118,085 shares totaling $0.7 million during the first two months of 2023.
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Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2024 FDD)
According to Benihana's 2024 Franchise Disclosure Document, the average price paid per share for Benihana stock purchased between October 1 and October 31, 2022, was $6.50. During this period, Benihana purchased a total of 16,224 shares as part of a publicly announced plan. The maximum dollar value of shares that may yet be purchased under the plan was $6,391,022.
This information is relevant to potential investors or franchisees interested in the financial activities of Benihana. The stock purchase program indicates that Benihana is investing in its own stock, which can be seen as a sign of confidence in the company's future performance.
The details of stock purchases, such as the number of shares, average price, and total value, provide transparency into Benihana's financial management and capital allocation strategies. Reviewing these figures over different periods can reveal trends and patterns in the company's stock repurchase activities. This can help potential franchisees assess the financial health and stability of Benihana.