clock menu more-arrow no yes

Filed under:

Beneficial Holdings to buy back up to 5% of its stock

Salt Lake-based nutraceutical company Beneficial Holdings Inc. said Friday it plans to implement a stock buyback program.

The buys will made at market prices on the Pink Sheets exchange operated by the Nasdaq Stock Market or through private transactions and will be paid for with general corporate funds from sales profits of its products, it said.

Beneficial's president, Harvey Carmichael, said that he will spend no more than $350,000 to repurchase up to 5 percent of the company's outstanding stock under a one-year program.