Wabash National Corporation Announces $100 Million Increase to Stock Repurchase Program
15 Novembro 2018 - 9:45AM
Wabash National Corporation (NYSE: WNC) today announced that its
Board of Directors has authorized the company to repurchase up to
an additional $100 million of its common stock through February
2022, representing approximately 12 percent of the company’s
current market capitalization. This is an increase to the existing
repurchase program approved in February 2017, of which
approximately $5 million was available as of November 14, 2018.
Brent Yeagy, President and Chief Executive Officer,
said, “Since 2015, we have returned approximately $255 million to
our stockholders through multiple discretionary repurchase
authorizations. The Board authorizing another increase to our stock
repurchase program further validates our continued commitment to
deliver return of capital to our stockholders through both our
regular quarterly dividend and stock repurchases. We remain
confident that we will generate sufficient cash flow to execute our
capital allocation strategy of investing in the growth and
diversification of our business, returning value to our
shareholders through discretionary share repurchases and regular
quarterly dividends and maintaining a healthy balance sheet with
strong liquidity.”
Stock repurchases under this program may be made in
the open market or in private transactions at times and in amounts
determined by the company. The company, at its sole discretion, may
limit or terminate the stock repurchase program at any time based
on market conditions, liquidity needs or other factors. The program
is intended to enhance stockholder value by reducing the overall
number of outstanding shares, including by offsetting dilution
resulting from stock-based compensation programs.
Safe Harbor StatementThis press
release contains certain forward-looking statements as defined by
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements convey the Company’s current
expectations or forecasts of future events. All statements
contained in this press release other than statements of historical
fact are forward-looking statements, including statements regarding
the implementation of and timing for the repurchase program, the
Company’s capital allocation strategy and ability to return capital
to stockholders, expectations for cash generation and cash flow,
the ability to continue both a stock repurchase program and a
quarterly dividend, deleveraging the balance sheet, and growing the
business. The Company’s forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those implied by the forward-looking
statements. Without limitation, these risks and uncertainties
include changes in economic conditions, changes in the Company’s
business and results of operations, access to capital, availability
of alternative uses of capital, and other risks, including those
set forth in the various disclosures made in the Company’s filings
with the Securities and Exchange Commission.
About Wabash National
CorporationWabash National Corporation (NYSE:WNC) is a
diversified industrial manufacturer and a leading producer of
semi-trailers and liquid transportation systems. Established in
1985 in Lafayette, Indiana, the company manufactures a diverse
range of products, including: dry freight and refrigerated
trailers, platform trailers, bulk tank trailers, dry and
refrigerated truck bodies, truck-mounted tanks, intermodal
equipment, aircraft refueling equipment, structural composite
panels and products, trailer aerodynamic solutions, and specialty
food grade and pharmaceutical equipment. Its innovative products
are sold under the following brand names: Wabash National®, Beall®,
Benson®, Brenner® Tank, Bulk Tank International, DuraPlate®,
Extract Technology®, Garsite, Progress Tank, Supreme®, Transcraft®,
Walker Engineered Products, and Walker Transport. Learn more at
www.wabashnational.com.
Media Contact:Dana StelselDirector, Corporate
Communications(765) 771-5766dana.stelsel@wabashnational.com
Investor Relations:Ryan ReedDirector, Investor
Relations(765) 771-5805ryan.reed@wabashnational.com
Wabash National (NYSE:WNC)
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