Quality Distribution (QLTY) Approves $15M Common Buyback Plan

November 20, 2012 4:31 PM EST
Quality Distribution, Inc. (Nasdaq: QLTY) announced that the Company's Board of Directors has authorized the repurchase of up to $15 million of Quality's common stock.

Under the program, repurchases may be made in the open market, or through privately negotiated transactions, block transactions, or other mechanisms, as determined by the Company's management and in accordance with prevailing market conditions and the requirements of the Securities and Exchange Commission. Quality expects to fund share repurchases from future cash flows from operations or borrowings under its asset-based revolving credit facility. The share repurchase program does not have an expiration date, the Company is not obligated to acquire a particular number of shares, and the program may be discontinued at any time at the Company's discretion.

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