Ryder System (R) Announces Two Targeted Buybacks
Down)
Ryder System (NYSE: R) today announced the authorization of two 'targeted' stock buyback programs. the first will repurchase $300 million of Ryder's common stock and is being implemented to help move the Company's leverage position toward its previously stated leverage target range of 250% to 300%. Based on Ryder's current stock price, the new buyback will retire approximately 10.8% of the Company's outstanding shares.
The second buyback will total up to 2 million shares of common stock and is being implemented to mitigate the dilutive impact of shares issued under the Company's various employee stock option and employee stock purchase plans.
Ryder System, Inc. provides transportation and supply chain management solutions. It operates in three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Contract Carriage (DCC). The FMS segment provides leasing, commercial rental, and contract maintenance solutions primarily in the United States, Canada, and the United Kingdom. The SCS segment provides supply chain consulting and lead logistics management solutions in North America, Latin America, Europe, and Asia. The DCC segment provides vehicles and drivers as part of a transportation solution in the United States.
The second buyback will total up to 2 million shares of common stock and is being implemented to mitigate the dilutive impact of shares issued under the Company's various employee stock option and employee stock purchase plans.
Ryder System, Inc. provides transportation and supply chain management solutions. It operates in three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Contract Carriage (DCC). The FMS segment provides leasing, commercial rental, and contract maintenance solutions primarily in the United States, Canada, and the United Kingdom. The SCS segment provides supply chain consulting and lead logistics management solutions in North America, Latin America, Europe, and Asia. The DCC segment provides vehicles and drivers as part of a transportation solution in the United States.
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