What was the average price paid per share for Benihana stock purchased in October 2023?
Benihana Franchise · 2024 FDDAnswer from 2024 FDD Document
0.0 million of outstanding common stock. In May 2023, the Company's Board of Directors authorized an additional $5.0 million to this program. During the years ended December 31, 2023 and 2022, the Company purchased 1.2 million and 1.1 million shares for aggregate consideration of $7.9 million and $7.1 million, respectively. As of December 31, 2023, the Company had repurchased 2.3 million shares for $15.0 mi
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 from October 1-31, 2023, was $5.39. During this period, Benihana purchased a total of 35,739 shares as part of a publicly announced plan. The 35,739 shares purchased in October 2023 represents the total number of shares purchased as part of the publicly announced plan.
This information is relevant to potential Benihana franchisees as it provides insight into the company's stock repurchase activity. Stock repurchases can influence the value of shares and reflect the company's financial strategy. While this data does not directly impact the day-to-day operations of a franchise, it offers a glimpse into the financial management and decisions made at the corporate level.
It is important to note that the FDD provides this historical data on stock purchases as part of Item 22, which covers contracts. Franchisees should review this item to understand the various agreements and financial activities Benihana engages in, as these can indirectly affect the overall health and stability of the franchise system.