Franklin Covey Co. announced that its Board of Directors approved replenishing the company’s authorization to repurchase up to an aggregate amount of $50 million of its outstanding common stock. The Board also authorized the adoption of a 10b5-1 trading plan to facilitate consistent share repurchases.
As of May 31, 2025, Franklin Covey had repurchased approximately $17 million of its common stock in fiscal year 2025, with about $28 million remaining under the prior $50 million authorization. This new reauthorization includes any amounts remaining from the existing program, ensuring continued flexibility for buybacks.
Paul Walker, Chief Executive Officer, stated that the share repurchase program and 10b5-1 plan are effective tools to return capital to shareholders. He expressed belief that the current share price does not reflect the value the business plan is expected to deliver, indicating management's confidence in the company's future prospects and its commitment to enhancing shareholder value.
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