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ArcBest® (NASDAQ:ARCB), a leading integrated logistics company, today announced that its board of directors has approved an increase in the company's share repurchase authorization to a total of $125 million.
"Our share repurchase authorization reflects the board's confidence in ArcBest's strategy and long-term outlook," said Judy R. McReynolds, ArcBest Chairman and CEO. "We remain committed to a balanced and disciplined capital allocation approach. This includes investing in our business to drive profitable growth, maintaining a strong balance sheet, and returning capital to our shareholders."
Under the program, ArcBest may repurchase shares of its common stock from time to time through open market transactions, privately negotiated purchases, or other methods, including Rule 10b5-1 trading plans. The timing and amount of repurchases will depend on market conditions and other factors. The program does not obligate the company to repurchase any specific number of shares and may be modified, suspended, or terminated at any time at the company's discretion.
Posted In: ARCB
