Yellow to Buy Back Stock

July 5, 2000 10:34 AM, EDT

Yellow Corp. has joined the growing list of trucking companies that are buying back their stock, announcing June 23 its intention to spend up to $25 million in the repurchasing program.

The plan has no limit in terms of time or the number of common shares. Repurchases are to be made both through open market trading and private placements, said a company spokesman.

This is the second major repurchase plan for Yellow in 18 months. One of the Big Four national less-than-truckload carriers, the company in Overland Park, Kan., bought back 3.8 million common shares from December 1998 through April 1999. During that time, the stock traded from a low of $16 to a high of $19.25.

As of March 31, Yellow had about 25.3 million common shares outstanding, fully diluted, spokesman Roger Dick said.

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