Malibu Boats Board Authorizes Increase In Share Repurchase Program From $50M To $70M

Malibu Boats, Inc. (NASDAQ:MBUU), a U.S. designer and manufacturer of category-leading salt and freshwater recreational powerboat brands, today announced that its board of directors has authorized an increase to the Company's existing share repurchase program, raising the authorized amount from $50 million to $70 million.

The expanded repurchase program reflects the board's confidence in MBI's long-term strategy, financial position, and commitment to delivering value to shareholders.

During the second quarter, the company repurchased $20.7 million of shares under the repurchase program.