United Parks & Resorts’ Shareholders Approve $500M Buyback

The firm held a special meeting of stockholders to approve a new share repurchase program, provided that the company will not repurchase additional shares if Hill Path’s common stock ownership equals or exceeds 70% as a result of any such repurchase.

United Parks & Resorts Inc. (PRKS) said on Friday that the company’s stockholders have approved a $500 million buyback authorization.

On September 3, United Parks & Resorts held a special meeting of stockholders to approve and authorize the new share repurchase program, subject to the qualification that the company will not repurchase additional shares if Hill Path, its largest shareholder’s common stock ownership, equals or exceeds 70% as a result of any such repurchase.  

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