101  0 Kommentare Ryder Authorizes New Discretionary and Anti-Dilutive Programs to Repurchase Shares

Ryder is a leader in supply chain, dedicated transportation, and fleet management solutions. (Photo: Business Wire)

Under the new discretionary repurchase program, Ryder management is authorized to repurchase up to 2.0 million shares of common stock, at its discretion, from October 12, 2023, through October 12, 2025 (two years). This program is designed to provide management with capital structure flexibility while concurrently managing objectives related to balance sheet leverage, acquisition opportunities, and shareholder returns. Our previously authorized 2.0 million share discretionary repurchase program, authorized in February 2023, was completed in September 2023.

Under the new anti-dilutive repurchase program, Ryder management is authorized to repurchase up to 2.0 million shares of common stock from October 12, 2023, through October 12, 2025 (two years), that have been issued to employees under the company’s employee stock plans since August 31, 2023. This program is designed to mitigate the dilutive impact of shares issued under the company’s employee stock plans. The new program replaced the company’s 2021 anti-dilutive program, which expired on October 14, 2023.

“Ryder has made transformational changes to de-risk our business model, enhance returns and cash flow, and accelerate profitable growth, which have resulted in outperformance versus prior cycles,” says Ryder Chairman and Chief Executive Officer Robert Sanchez. “The improved resiliency of our business is also enabling us to invest in organic growth at higher returns, pursue strategic acquisitions, and return capital to our shareholders. Our demonstrated performance amid a weak freight backdrop supports our confidence in our business and prospects for long-term value creation.”

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Share repurchases under both programs can be made from time to time using the company’s working capital and a variety of methods, including open-market transactions and trading plans established pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934. The timing and actual number of shares repurchased are subject to market conditions, legal requirements, and other factors. As of September 30, 2023, the company had approximately 44.3 million shares of common stock outstanding.