Rush Enterprises, Inc. Adopts $40 Million Stock Repurchase Program
November 30 2017 - 4:30PM
Rush Enterprises, Inc. (Nasdaq:RUSHA) (Nasdaq:RUSHB), which
operates the largest network of commercial vehicle dealerships in
North America, today announced that its Board of Directors approved
a new stock repurchase program authorizing the Company to
repurchase, from time to time, up to an aggregate of $40 million of
its shares of Class A common stock, $.01 par value per share,
and/or Class B common stock, $.01 par value per share. This new
stock repurchase program replaces the Company's prior $40 million
repurchase program, announced on November 30, 2016, which recently
concluded. “Our new $40 million stock repurchase program reflects
our continued confidence in the Company’s future growth
opportunities and our commitment to enhancing shareholder value,”
said W.M. “Rusty” Rush, Chairman, Chief Executive Officer and
President of the Company.
Repurchases will be made at times and in amounts as the Company
deems appropriate and may be made through open market transactions
at prevailing market prices, privately negotiated transactions or
by other means in accordance with federal securities laws. The
actual timing, number and value of repurchases under the new stock
repurchase program will be determined by management in its
discretion and will depend on a number of factors, including market
conditions, stock price and other factors, including those related
to the ownership requirements of its dealership agreements with
Peterbilt. The new stock repurchase program expires on November 29,
2018, and may be suspended or discontinued at any time.
About Rush Enterprises, Inc.
Rush Enterprises, Inc. is the premier solutions provider to the
commercial vehicle industry. The Company owns and operates Rush
Truck Centers, the largest network of commercial vehicle
dealerships in the United States. These vehicle centers,
strategically located in high traffic areas on or near major
highways throughout the United States, represent truck and bus
manufacturers, including Peterbilt, International, Hino, Isuzu,
Ford, IC Bus and Blue Bird. They offer an integrated approach
to meeting customer needs — from sales of new and used vehicles to
aftermarket parts, service and body shop operations plus financing,
insurance, leasing and rental. Rush Enterprises' operations also
provide vehicle up-fitting, CNG fuel systems, vehicle telematics
products, chrome accessories and tires. For more information,
please visit www.rushenterprises.com.
Contact:
Rush Enterprises, Inc., San AntonioSteven L. Keller,
830-302-5226 kellers@rushenterprises.com
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