Dollar Thrifty Announces $100 mm Buyback

Market Cap= $1.5 Billion TULSA, Okla., Feb. 24, 2011 /PRNewswire/ — Dollar Thrifty Automotive Group, Inc. (NYSE:DTGNews) today announced that the Company’s Board of Directors has authorized a share repurchase program providing for the repurchase of up to $100 million of DTG stock. The share repurchase program is discretionary and has no expiration date. Shares will be repurchased at times and amounts based on market conditions and other factors. Additionally, share repurchases will be subject to applicable purchase limitations under the Company’s senior secured credit facilities. The share repurchase program may be suspended or discontinued at any time. “Over the past few years, the Company has demonstrated the ability to generate significant and sustainable cash flow. While our primary focus is to invest in the business in a manner that generates a high return on assets, we will evaluate all appropriate alternatives for investment of cash, including the potential return of excess cash to our shareholders through the program we are announcing today,” said Scott L. Thompson, President and CEO. Subject to applicable law, the Company may repurchase shares directly in the open market, in privately negotiated transactions, or pursuant to derivative instruments or plans complying with SEC Rule 10b5-1, among other types of transactions and arrangements.


'Dollar Thrifty Announces $100 mm Buyback' has no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.