Blue Bird Corp (BLBD) has released an update.
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Blue Bird Corporation’s Board of Directors has authorized a share repurchase program, allowing for the buyback of up to $60 million worth of its common stock over 24 months. The company may repurchase shares using various methods in compliance with federal securities laws, including establishing written trading plans under Rule 10b5-1 to enable repurchasing during otherwise restricted periods. The program’s specifics, such as timing and quantity of shares, are at the management’s discretion and may be funded through cash, cash flow, or debt. The program, which can be modified or ended at any time, will be publicly reported in the company’s periodic SEC filings.
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For a comprehensive understanding of the announcement, you can read the full document here.