Concrete Pumping Holdings Inc
For the period ended Mar 7, 2024. Filed Mar 7, 2024.
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Mar 7, 2024 · Filed Mar 7, 2024
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EX-99.1 · Share Repurchase Program
Share Repurchase Program
In March 2024, CPH's board of directors approved a $15.0 million increase to the Company’s share repurchase program. This authorization will expire on March 31, 2025 and is in addition to the repurchase authorization of up to $10.0 million through March 31, 2025, that was previously approved in January 2023.
During the first three months of fiscal year 2024, the Company repurchased 36,094 shares for a total of $0.2 million at an average share price of $6.88 per share. Including the new authorization of $15.0 million under the March 2024 approval, a total of $23.2 million would have been available for purchase under the Company's repurchase program as of January 31, 2024.
"Today's announcement reflects our commitment to driving shareholder value," said Bruce Young. "Our disciplined approach to capital allocation, strong free cash flow and consistent operational execution have allowed us to support the growth of our businesses while delivering expected shareholder returns and creating long-term value."
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