Ryder Authorizes New Discretionary and Anti-Dilutive Programs to Repurchase Shares
25 Outubro 2023 - 8:55AM
Business Wire
Ryder System, Inc. (NYSE: R), a leader in supply chain,
dedicated transportation, and fleet management solutions announces
its Board of Directors has authorized two new share repurchase
programs.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231025959744/en/
Ryder is a leader in supply chain,
dedicated transportation, and fleet management solutions. (Photo:
Business Wire)
Under the new discretionary repurchase program, Ryder management
is authorized to repurchase up to 2.0 million shares of common
stock, at its discretion, from October 12, 2023, through October
12, 2025 (two years). This program is designed to provide
management with capital structure flexibility while concurrently
managing objectives related to balance sheet leverage, acquisition
opportunities, and shareholder returns. Our previously authorized
2.0 million share discretionary repurchase program, authorized in
February 2023, was completed in September 2023.
Under the new anti-dilutive repurchase program, Ryder management
is authorized to repurchase up to 2.0 million shares of common
stock from October 12, 2023, through October 12, 2025 (two years),
that have been issued to employees under the company’s employee
stock plans since August 31, 2023. This program is designed to
mitigate the dilutive impact of shares issued under the company’s
employee stock plans. The new program replaced the company’s 2021
anti-dilutive program, which expired on October 14, 2023.
“Ryder has made transformational changes to de-risk our business
model, enhance returns and cash flow, and accelerate profitable
growth, which have resulted in outperformance versus prior cycles,”
says Ryder Chairman and Chief Executive Officer Robert Sanchez.
“The improved resiliency of our business is also enabling us to
invest in organic growth at higher returns, pursue strategic
acquisitions, and return capital to our shareholders. Our
demonstrated performance amid a weak freight backdrop supports our
confidence in our business and prospects for long-term value
creation.”
Share repurchases under both programs can be made from time to
time using the company’s working capital and a variety of methods,
including open-market transactions and trading plans established
pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934. The
timing and actual number of shares repurchased are subject to
market conditions, legal requirements, and other factors. As of
September 30, 2023, the company had approximately 44.3 million
shares of common stock outstanding.
About Ryder System, Inc.
Ryder System, Inc. (NYSE: R) is a leading logistics and
transportation company. It provides supply chain, dedicated
transportation, and fleet management solutions, including
warehousing and distribution, e-commerce fulfillment, last-mile
delivery, managed transportation, professional drivers, freight
brokerage, full-service leasing, maintenance, commercial truck
rental, and used vehicle sales to some of the world’s
most-recognized brands. Ryder provides services throughout the
United States, Mexico, and Canada. In addition, Ryder manages
nearly 260,000 commercial vehicles and operates approximately 300
warehouses encompassing more than 95 million square feet. Ryder is
regularly recognized for its industry-leading practices in
third-party logistics, technology-driven innovations, commercial
vehicle maintenance, environmental stewardship, corporate social
responsibility, world-class safety and security programs, military
veteran recruitment initiatives, and the hiring of a diverse
workforce. www.ryder.com
Note Regarding Forward-Looking Statements: Certain statements
and information included in this news release are “forward-looking
statements” within the meaning of the Federal Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
based on our current plans and expectations and are subject to
risks, uncertainties and assumptions. Accordingly, these
forward-looking statements, including our expectations regarding
the benefits and timing of the transaction, should be evaluated
with consideration given to the many risks and uncertainties that
could cause actual results and events to differ materially from
those in the forward-looking statements including those risks set
forth in our periodic filings with the Securities and Exchange
Commission. New risks emerge from time to time. It is not possible
for management to predict all such risk factors or to assess the
impact of such risks on our business. Accordingly, we undertake no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events,
or otherwise.
ryder-financial
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231025959744/en/
Media: Amy Federman,
afederman@ryder.com
Investor Relations: Calene
Candela, ccandela@ryder.com
Ryder System (NYSE:R)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Ryder System (NYSE:R)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024