WINSTON-SALEM, N.C. — The board of directors of Krispy Kreme Doughnuts, Inc. has approved a share repurchase program of up to $20 million, effective immediately. As of March 28, the company had approximately 68 million shares outstanding.

“This share repurchase authorization is an indication of Krispy Kreme’s financial strength as well as our positive outlook for the future,” said James H. Morgan Jr., chairman and chief executive officer. “Over the past several years, we have substantially improved our performance and strengthened our balance sheet, and are confident that we have the capital resources to implement and support our growth plans. This authorization is also consistent with our ongoing commitment to enhance long-term returns to our shareholders.”