Wingstop board approves share buyback program of up to $250 million

Wingstop Inc.
WING,
-0.80%
said Thursday its board has approved a new share buyback program of up to $250 million. The chicken wing restaurant operator said it will finance the program with cash on hand and cash flow from operations. As of July 1, the company had $188.5 million in cash and cash equivalents. The stock has gained 18% in the year to date, while the S&P 500
SPX,
-0.76%
has gained 15%.