Old Dominion (ODFL) Stock Buy-Back
Old Dominion Freight Line, Inc. (ODFL) announced on May 17 that the company’s Board of Directors authorized a new share repurchase program. Beginning after the May 23 expiration of the previous program, the repurchase program authorizes the repurchase of up to $250 million in common stock. In addition, Old Dominion Freight Line will pay a $0.13 cash dividend to shareholders who own stock as of the close of business on June 6.
Sonal reported the news to subscribers at 4:47 pm, and the next trade took place at 4:47 pm for $147.07. The stock price opened for regular trading the next morning at $146.05. After experiencing gains over the next six trading days, the stock closed at $154.25 on May 25.
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