UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Commission File Number 1-5109
TODD SHIPYARDS CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 91-1506719
(State or other jurisdiction of (IRS Employer I.D. No.)
incorporation or organization)
1801- 16th AVENUE SW, SEATTLE, WASHINGTON 98134-1089
(Street address of principal executive offices - Zip Code)
Registrant's telephone number: (206) 623-1635
Item 5. Other Events
Todd Shipyards Corporation announced today that its Board of
Directors has authorized the repurchase up to 500,000 shares
of its Common Stock from time to time in open market or
negotiated transactions.
Item 7. Financial Statements and Exhibits
(c) Exhibits
28-1 Press Release dated April 20, 2000.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly
authorized.
Dated: April 20, 2000.
/s/Michael G. Marsh
______________________________
By: Michael G. Marsh
On Behalf of the Registrant as
Secretary and General Counsel
VIA FACSIMILE CONTACT: CAROL LOUIE DRUXMAN
TOTAL PAGES - 1 SHAREHOLDER RELATIONS
(206) 623-1635 Ext. 106
SEATTLE, WASHINGTON.April 20, 2000.Todd Shipyards Corporation (the
"Company") announced today that its Board of Directors has authorized
the repurchase up to 500,000 shares of its Common Stock from time to
time in open market or negotiated transactions.
The Company has previously engaged in stock repurchases when management
considers the market value relative to the fundamental value of the
Company to be favorable. The Company repurchased an aggregate of
293,700 shares of its Common Stock during the first nine months of
its fiscal year 2000 for a total $1,915,933. The Company did not
repurchase any shares during the fourth quarter of fiscal year 2000.
The Company currently has 9,701,480 shares of its Common Stock outstanding.
The Company indicated that it expects to announce earnings for its fiscal
2000 fourth quarter and year ended April 2, 2000, on or about June 13, 2000.
