[Logo of CBRL Group, Inc.] POST OFFICE BOX 787
LEBANON, TENNESSEE
37088-0787
PHONE 615.443.9869
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CBRL GROUP, INC.
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Contact: Lawrence E. White
Senior Vice President,
Finance and Chief Financial Officer
(615) 443-9869
CBRL GROUP, INC. ANNOUNCES A NEW SHARE REPURCHASE
AUTHORIZATION FOR 2 MILLION SHARES
AND DECLARES TWELVE CENTS PER SHARE QUARTERLY DIVIDEND
LEBANON, Tenn. - (February 25, 2005) - CBRL Group, Inc. (the "Company") (Nasdaq:
CBRL) today announced that it has been authorized by its Board of Directors to
repurchase up to 2 million additional shares of its common stock. Such
repurchases are expected to be made from time to time in open market
transactions. Additionally, the Board of Directors has declared a dividend of
twelve cents per share, payable on May 9, 2005 to shareholders of record as of
April 15, 2005. The Company had approximately 47.9 million shares outstanding at
the end of its second fiscal quarter on January 28, 2005.
The Company has just over 100,000 shares remaining under its previous 2
million share repurchase authorization announced in May 2004. Thus far this
fiscal year, the Company has repurchased approximately 2.8 million shares of its
common stock for total consideration of approximately $107.1 million, or an
average of $38.65 per share. Since its first share repurchase authorization in
fiscal 1999, the Company has repurchased just over 25.5 million shares of its
common stock for total consideration of approximately $700.8 million, or an
average of $27.47 per share.
Headquartered in Lebanon, Tennessee, CBRL Group, Inc. presently operates
517 Cracker Barrel Old Country Store restaurants and gift shops located in 41
states and 119 company-operated and 22 franchised Logan's Roadhouse restaurants
in 18 states.
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