Papa John's Authorizes Repurchase
The company announced that it has completed the $100 million in common stock repurchases previously authorized by its Board of Directors. After such repurchases, the company currently has approximately 27.3 million shares of common stock outstanding on a fully diluted basis.
The company also announced that its Board of Directors has authorized an increase of its existing credit availability to $200 million to fund the increased share repurchase and for general corporate purposes.
At January 31, 2000, there were 2,283 Papa John's restaurants (591 company-owned and 1,692 franchised) operating in 47 states and six international markets. Papa John's also owns or franchises 206 Perfect Pizza restaurants (15 company-owned and 191 franchised) in the United Kingdom.