Patriot Transportation Repurchases Its Common Stock
Patriot Transportation Holding Inc. reported that on Dec. 9, it repurchased 111,300 shares of its common stock for $2,485,334 or $22.33 per share in a negotiated block purchase
Patriot Transportation Holding Inc. reported that on Dec. 9, it repurchased 111,300 shares of its common stock for $2,485,334 or $22.33 per share in a negotiated block purchase.
Patriot's board of directors previously authorized the repurchase of the company's common stock as opportunities arise. Approximately $1,143,000 remains available for repurchase under this authorization.
Patriot Transportation is engaged in the transportation and real estate businesses. The company's transportation business is conducted through two wholly owned subsidiaries. Florida Rock & Tank Lines Inc. is a southeastern transportation company concentrating in the hauling of liquid and dry bulk commodities by tank trucks.
SunBelt Transport Inc. serves the flatbed portion of the trucking industry in the Southeast, Midwest and Mid-Atlantic states, hauling primarily construction materials.
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