05:07 PM EDT, 03/27/2024 (MT Newswires) -- United Parks & Resorts ( PRKS ) said late Wednesday its shareholders approved a $500 million stock buyback authorization and an amendment of an agreement with Hill Path Capital.

The buyback plan is subject to the qualification that United Parks won't repurchase additional shares if Hill Path's stake as a result would equal or exceed 50%.

Each proposal received more than 97% approval at a special stockholder meeting, United Parks said.

The share buyback plan has no time limit and may be discontinued at any time, the company said.

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