- Air Transport Services Group (NASDAQ:ATSG) has added another $100M to its stock repurchase authorization, in a move to combat some potential dilution ahead.
- The company had a $50M buyback authorization from August 2014, and has bought back about $18.3M under that program.
- The new move is meant to "accommodate an accelerated pace of share repurchases by ATSG," says CEO Joe Hete, considering the potential dilutive effects of warrants granted to its customer Amazon.com.
- The warrants are for the purchase of up to 19.9% of ATSG common shares through March 2021. Shares fell in March after details about Amazon's warrants emerged in filings, though they had jumped on news of the two companies' air cargo network deal.
- Now read Air Transport Services Group's Amazon Deal And DHL Relationship To Drive Growth
Air Transport Services adds $100M to buyback, with possible dilution ahead
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Symbol | Last Price | % Chg |
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ATSG | - | - |
Air Transport Services Group, Inc. |