Old Dominion announces new $250M stock repurchase program
Old Dominion Freight Line announced that its board of directors has approved a new stock repurchase program authorizing the repurchase of up to $250M of its outstanding common stock through June 2020. This new repurchase program will commence upon the expiration of the previously authorized two-year repurchase program announced on May 23, 2016. Under the new repurchase program, the company may repurchase shares from time to time in the open-market or through privately negotiated transactions. The extent to which the company repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations, as determined by the company's management team. The new repurchase program does not obligate the company to repurchase any number of shares and may be suspended or discontinued at any time.