Celadon Group Inc. on Wednesday, Aug. 25, announced that its board of directors authorized a stock repurchase program under which the company was authorized to purchase up to two million shares in open market or negotiated transactions through Aug. 31, 2011.
“At recent stock prices and applicable interest rates, repurchasing our shares would be accretive to earnings, and we believe repurchasing our shares offers a potentially attractive use of capital,” says Steve Russell, chairman and chief executive officer of the Indianapolis-based company.
