Dole Food to Buy Back 6% of Common Shares

Dole Food Co. said it will buy back as much as 5% of its 60.1 million common shares outstanding.

Dole, a fruit and vegetable processor based in Westlake Village, said one reason for the buyback is to increase earnings per share by reducing the total number of its outstanding shares.

The timing of the purchases and the exact number of shares to be bought will depend upon market conditions, the company said.