Old Dominion Freight Line Plans New Share Repurchase Program For Up To $3.0B Of Its Outstanding Stock
Portfolio Pulse from Benzinga Newsdesk
Old Dominion Freight Line (ODFL) has announced a new share repurchase program for up to $3.0 billion of its outstanding stock. This program will commence after the completion of the company's existing $2.0 billion repurchase program, which had $376.9 million remaining as of June 30, 2023.
July 26, 2023 | 11:05 am
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The announcement of a new share repurchase program by ODFL could potentially boost investor confidence and increase the stock's price in the short term.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock, as it indicates that the company believes its shares are undervalued. This could potentially lead to increased investor confidence and a rise in the stock's price.
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