Celadon increases stake in itself
INDIANAPOLIS – In another clear signal trucking companies are believing in themselves once again, the Celadon Group has approved the repurchase of up to 9 percent of its stock in the next year.
Chairman and CEO Steve Russell called the move a good investment.
Shares are up 15 percent over the past year.
"At recent stock prices and applicable interest rates, repurchasing our shares would be accretive to earnings, and we believe repurchasing our shares offers a potentially attractive use of capital," said Russell.
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.