Blue Bird Announces Authorization of $60 Million Stock Repurchase Program
February 01 2024 - 9:15AM
Business Wire
Blue Bird Corporation (Nasdaq: BLBD), the leader in electric and
low-emission school buses, today announced that its Board of
Directors authorized the company to repurchase up to $60 million in
the aggregate of its outstanding common stock during the next 24
months. The repurchase program permits repurchases in open market
or private transactions, including accelerated share repurchase
transactions, block trades, or pursuant to trading plans intended
to comply with SEC Rule 10b5-1.
“We are proud of Blue Bird’s continued strong performance and
are excited to leverage our strong free cash flow generation again
to return capital to our shareholders through this new stock
repurchase program,” said Blue Bird CEO Phil Horlock. “This
initiative reflects management’s confidence in the health of our
business, our long-term growth prospects, and our overall
commitment to continually enhancing shareholder value.”
The timing, manner, price, and amount of securities to be
repurchased will be at the discretion of Blue Bird management. The
repurchase program does not obligate Blue Bird to acquire any
specific amount of securities and can be modified or terminated at
any time without notice. Repurchases under this program are
expected to be funded from one or a combination of existing cash
balances, future free cash flow or indebtedness.
About Blue Bird Corporation
Blue Bird (NASDAQ: BLBD) is recognized as a technology leader
and innovator of school buses since its founding in 1927. Our
dedicated team members design, engineer and manufacture school
buses with a singular focus on safety, reliability, and durability.
School buses carry the most precious cargo in the world – 25
million children twice a day – making them the most trusted mode of
student transportation. The company is the proven leader in low-
and zero-emission school buses with more than 20,000 propane,
natural gas, and electric powered buses in operation today. Blue
Bird is transforming the student transportation industry through
cleaner energy solutions. For more information on Blue Bird's
complete product and service portfolio, visit
www.blue-bird.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240201883194/en/
Investor Contact Mark Benfield Blue Bird Corporation T:
+1.478.822.2315 E: Mark.Benfield@blue-bird.com
Blue Bird (NASDAQ:BLBD)
Historical Stock Chart
From May 2024 to Jun 2024
Blue Bird (NASDAQ:BLBD)
Historical Stock Chart
From Jun 2023 to Jun 2024