Alamo Group (ALG) Announces $50M Share Repurchase Program

Alamo Group Inc. (NYSE: ALG) today announced that its Board of Directors has approved a share repurchase program under which the Company is authorized to repurchase in the aggregate up to $50 million of its outstanding common stock.

Jeff Leonard, Alamo Group's President and Chief Executive Officer, stated "This share repurchase program is part of a disciplined capital allocation strategy that demonstrates our commitment to enhancing shareholder value. Today's announcement affirms our confidence in the future of our business and is based on the strength of our balance sheet and our expectations of future cash flow generation."

The extent to which the Company may repurchase shares, and the timing of any such purchases, will depend upon market conditions and other corporate considerations as determined by the Company's Board and management.

You May Also Be Interested In

• Meta's Muse AI to counter China models with subscribers, not ads, Alexandr Wang says - Nikkei
• Jazz Pharmaceuticals' Ziihera shows 3-year survival data in GEA
• FDA approves first once-weekly insulin for type 2 diabetes mellitus in pediatric patients