Wabash National to Buy Back Stock Over Next Two Years
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“Over the past few years we have significantly improved both our profitability and cash generation. We feel comfortable that we have the resources available to finance our current operations, capital investment initiatives and this stock repurchase program,” said Bill Greubel, Wabash National’s chief executive officer.
abash National said Monday its board has authorized the company to repurchase up to 2 million shares of its common stock until Sept. 15, 2007.
“Stock repurchases under this program may be made in the open market or in private transactions, at times and in amounts that management deems appropriate,” the company said in a statement.
The share repurchase authorized is approximately 6.4% of the 31 million shares outstanding. The program is intended to partially offset dilution resulting from stock award programs.
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