Landstar to Buy Up to 2 Million Shares of Its Stock

andstar System Inc. said late Thursday its board had authorized the company to buy up to an additional 2 million shares of its stock “from time to time in the open market and in privately negotiated transactions.”

The move came after after the truckload carrier recently completed a previously authorized share purchase program by purchasing 405,862 shares of its common stock in April.

Since January 1997 the company has purchased more than 51 million shares of its common stock, adjusted to reflect previous stock splits, at a total cost of about $384 million.

Landstar is ranked No. 15 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.