YRC to repurchase $100 million worth of stock
The board of Overland Park, Kan.-based YRC Worldwide Inc., formerly known as YellowRoadway, Friday approved a stock repurchase program that authorizes the company to repurchase up to $100 million of its common stock.
“We believe that our stock remains significantly undervalued in the market and we continue to have confidence in the long-term value of our organization,” said Bill Zollars, YRC’s chairman, president and chief executive officer. “Our plans to pay down $100 million of debt in 2006 remain unchanged.”
YRC said the repurchase program does not have an established expiration date. The company is parent to YRC Regional Transportation, which comprises New Penn Motor Express and the USF companies, USF Holland, USF Reddaway, USF Bestway and USF Glen Moore.
YRC to repurchase $100 million worth of stock
