Norwegian Cruise Line Holdings today announced that its Board of Directors authorized a three-year, $1 billion share repurchase program.
The company said it may repurchase its ordinary shares from time to time, in amounts, at prices and at such times as it deems appropriate, subject to market conditions and other considerations.
Norwegian said it may make repurchases in the open market, in privately negotiated transactions, in accelerated repurchase programs or in structured share repurchase programs, and any repurchases may be made pursuant to Rule 10b5-1 plans. The program will be conducted in compliance with applicable legal requirements and will be subject to market conditions and other factors.
“The $1 billion share repurchase program authorization reflects our ongoing confidence in our financial strength and the long-term outlook of our business,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. “Our strong and growing cash flow will allow us to deepen our commitment to provide returns to our shareholders while continuing to invest in our product, innovation and growth.”