Bluelinx Holdings (BXC) Announces $25M Stock Buyback

BlueLinx Holdings Inc. (NYSE: BXC) announced today that its Board of Directors authorized a new share repurchase program under which the Company may repurchase up to $25 million of its outstanding shares of common stock in the open market, in accordance with all applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The Company’s decision to repurchase its shares, as well as the timing of such repurchases, will depend on a variety of factors, including the ongoing assessment of the Company’s capital needs, the market price of the Company’s common stock, general market conditions and other corporate considerations, as determined by management. The repurchase program may be suspended or discontinued at any time.

“BlueLinx is committed to a balanced capital allocation strategy designed to maximize total shareholder returns,” stated Dwight Gibson, President and CEO of BlueLinx. “Given the strong performance of our business during the past year, coupled with a favorable multi-year outlook for residential construction and home renovation markets, we believe our capital allocation strategy should prioritize a combination of organic growth investments, the acquisition of complementary assets in key target markets and an opportunistic return of capital program. The approval by our Board of Directors of a new share repurchase authorization demonstrates confidence in our business, while providing management with another tool to optimize value creation.”

For further information, please see the Company’s current report on Form 8-K filed with the Securities and Exchange Commission on August 23, 2021.

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