Old Dominion Freight Line Inc. has approved a stock repurchase program authorizing the North Carolina-based trucking company to repurchase up to $200 million of its outstanding common stock.
by Staff
November 11, 2014
2 min to read
Old Dominion Freight Line Inc. announced on Monday its board of directors has approved a stock repurchase program authorizing the North Carolina-based trucking company to repurchase up to $200 million of its outstanding common stock over the next 24 months.
Under the program ODFL may repurchase shares from time to time in open-market purchases or through privately negotiated transactions, according to a news release. The extent to which the company will repurchase its shares and the timing will depend upon market conditions and corporate considerations determined by ODFL’s management team. The repurchase program does not obligate the company to repurchase any number of shares and may be suspended or discontinued at any time.
Ad Loading...
“Our management team and board of directors believe that Old Dominion is well-positioned to achieve further profitable growth while also generating significant cash flow from operations,” said David S. Congdon, president and CEO. “As a result, we expect our financial position to continue to improve despite the significant capital expenditures that may be necessary to continue to grow our business. We believe that the combination of our long-term growth opportunities and the financial strength required to initiate this stock repurchase program further demonstrates our ability to increase shareholder value.”
Mack Financial Services has introduced the Rolling Asset Program, offering physical damage insurance for all makes and models within a customer's fleet.
A new partnership brings free wireless ELD service plus load optimization and dispatch planning tools to fourth- and fifth-generation Freightliner Cascadia customers, with broader model availability planned through 2026.
This white paper examines how advanced commercial vehicle diagnostics can significantly reduce fleet downtime as heavy duty vehicles become more complex. It shows how Autel’s CV diagnostic tools enable in-house troubleshooting, preventive maintenance, and faster repairs, helping fleets cut emissions-related downtime, reduce dealer dependence, and improve overall vehicle uptime and operating costs.
The $283 million acquisition of FirstFleet makes Werner the fifth-largest dedicated carrier and pushes more than half of its revenue into contract freight.
B2X Rewards is a new, gamified rewards program aimed at driving deeper engagement across BBM’s digital platforms, newsletters, events, and TheFleetSource.com.
Cargo theft losses hit $725 million last year. In this HDT Talks Trucking Short Take video, Scott Cornell explains how a bill moving in Congress could bring federal tracking, enforcement, and prosecutions to help address the problem.
