Saia Approves $25 Million Stock Buyback

ess-than-truckload carrier Saia Inc. on Monday approved a plan to repurchase up to $25 million worth of its common stock, the Associated Press reported.

The carrier’s board of directors did not specify a time frame for the buyback, AP said.

Saia’s board authorized the plan only a week after completing its last buyback initiative, approved in May 2005, which saw the company repurchase $20 million of its out-standing shares, AP reported.

Saia, formerly known as SCS Transportation, is ranked No. 23 on the Transport Topics 100 list of U.S. and Canadian for-hire carriers.