Business
P.A.M. Transportation Services, Inc. Announces Reauthorization of Share Repurchase Program
TONTITOWN, AR / ACCESSWIRE / November 5, 2021 / P.A.M. Transportation Services, Inc. (NASDAQ:PTSI), a transportation and logistics provider, today announced
About this update from Pamt Corp
[{"type":"text","content":"TONTITOWN, AR / ACCESSWIRE / November 5, 2021 / P.A.M. Transportation Services, Inc. (NASDAQ:PTSI), a transportation and logistics provider, today announced that its Board of Directors has approved, effective immediately, a reauthorization to repurchase up to 500,000 shares of the Company's common stock. The Company's stock repurchase program has been extended and expanded several times since the original authorization in 2011, and this reauthorization acts as a replenishment of shares under the repurchase program.\"This reauthorization provides PAM with a valuable option when deciding how to best allocate capital and demonstrates the Board's confidence in our business model and future performance,\" said Joe Vitiritto, President and Chief Executive Officer of P.A.M. Transportation Services, Inc. \"The timing of stock repurchases and the number of shares of common stock to be repurchased will depend upon prevailing market conditions and other factors. Repurchases, if any, under the program will be made at the discretion of management and will be made using the Company's existing liquidity and free cash flow. Repurchases may be commenced or suspended from time-to-time at the Company's discretion without prior notice and will depend upon market pricing and conditions, business, legal, accounting, and other considerations. Repurchases may be made in the open market, through 10b5-1 programs, block trades or in privately negotiated transactions. The Company's stock repurchase program has no expiration date.About P.A.M. Transportation Services, Inc.P.A.M. Transportation Services, Inc. is a leading truckload dry van carrier transporting general commodities throughout the continental United States, as well as in the Canadian provinces of Ontario and Quebec. The Company also provides transportation services in Mexico through its gateways in Laredo and El Paso, Texas under agreements with Mexican carriers.Forward-Looking StatementsCertain information included in this document contains or may contain \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may relate to expected future financial and operating results, prospects, plans or events, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors whi...