Jamba Boosts Stock Buyback Program

(RTTNews) - Jamba, Inc. (JMBA) said Tuesday that its Board of Directors has increased its share repurchase authorization from $25 million to $40 million.

The company has repurchased about $21.8 million of the original $25 million authorized in November of 2014. The increased authorization leaves about $18.2 million of unspent authorization. The authorization expires May 4, 2016.

"We are pleased that the Board agreed to increase our share repurchase program by $15 million," said James D. White, chairman, president and CEO of Jamba, Inc. "We plan to use some of our proceeds from the refranchise initiative to repurchase shares."