Ryder System, Inc. announced that its Board of Directors authorized a new discretionary share repurchase program on October 15, 2024. This new program replaces a prior two-million-share program that was recently completed in September.
The authorization of this new program indicates Ryder's continued commitment to returning capital to shareholders. Year-to-date, the company has returned $382 million in cash to shareholders through share repurchases and dividends.
This capital deployment strategy is supported by the earnings power of Ryder's contractual businesses, which is increasing the company's capital deployment capacity. The new program provides flexibility for future share repurchases, reinforcing management's confidence in the company's valuation and long-term prospects.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.