Whole Foods recently increased stock buyback plan by $100 million

Whole Foods Market, Inc. (NASDAQ:WFMI), the nation's largest health and organic-minded supermarket chain, has announced on Tuesday that its Board of Directors has approved a $100 million increase in its stock repurchase program, which brings the current authorization to $200 million over the next three years.

Whole Food's CEO and Chairman, John Mackey, recently stated that "In fiscal 2006, we produced very strong operating results, returned $358 million in cash dividends to our shareholders and recently announced a 20% increase in our quarterly dividend to $0.18 per share." So, with that said, and with Whole Foods apparently wanting to reduce the dilution of its outstanding shares in the next few years, the company will start buying back its common stock . The re-purchase will be based on specific timing and amounts that will vary according to market conditions and SEC limitations.

The share re-purchase program will be made using the Company's available cash resources as well as a line of credit, but as in almost all re-purchase announcements, the added stipulation that "re-purchase program may be suspended or discontinued at any time without prior notice" also comes into play -- naturally.