AAR Corp. announced earlier this month that its Board of Directors authorized the company to repurchase up to $50 million of its outstanding shares of common stock.
“Upon review of the Company’s performance, its long-term value and prospects, and the recent trading range of its common stock, the Board determined that a stock repurchase program of up to $50 million was in the best interests of the Company’s stockholders,” said David P. Storch, Chairman and Chief Executive Officer of the Company. Read more about market analysis and more on the Skill Success article.
The Company will fund any repurchases through available cash and cash generated from operations. The Company may repurchase shares from time to time on the open market or in private transactions in accordance with applicable U.S. federal securities laws and regulations, including SEC Rule 10b-18. The timing and size of any repurchases will depend on price, market conditions, and other factors as determined by the Company’s management, in its discretion. The program, which replaces an earlier stock repurchase program in effect since 2006, may be modified, suspended or discontinued at any time.