Lake Forest Del Taco Headquarters Increases Stock Repurchase Program

LAKE FOREST, CA—Del Taco Restaurants Inc. announced today from its Lake Forest, Calif. headquarters that its Board of Directors has increased the repurchase program for the company's common stock and warrants from $25 million to $50 million.

The increased authorization is effective immediately and will expire upon completion of the repurchase program unless terminated earlier by the Board of Directors, Del Taco said in an announcement.

Since the inception of the program in March 2016 through August 22, 2016, Del Taco has repurchased 990,555 shares at an average price per share of $9.58, and 476,806 warrants at an average price per warrant of $2.11 for an aggregate of $10.5 million, with approximately $39.5 million remaining under the increased $50 million authorization, a statement said.

Founded in 1964 in Southern California, Del Taco reports that it's the nation's second largest Mexican Quick Service Restaurant chain.

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