Brunswick Corp. to resume share buybacks after suspending them during pandemic

/ / News

Brunswick Corp. said Tuesday it is resuming its share buyback program after suspending it earlier this year during the coronavirus pandemic. The maker of boat engines and other parts said it had completed about a third of the $100 million of buybacks planned for this year before the suspension, after buying back $400 million of shares in 2019. “Entering September, we continue to see a very healthy marine market which is driving the strong cash flow performance of our business,” Chief Financial Officer Ryan Gwillim said in a statement. Shares were not active premarket, but are down 1.3% in the year to date, while the S&P 500 has gained 6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.