Ryder System Inc. (R) announced that its Board has authorized a new share repurchase program to mitigate the dilutive impact of shares issued under the company's various employee stock, stock option and employee stock purchase plans. The program limits aggregate share repurchases to no more than two million shares of Ryder common stock.
Under the new anti-dilutive program, Ryder management is authorized to repurchase shares of common stock in an amount not to exceed the number of shares issued to employees under the company's various employee stock, stock option and employee stock purchase plans from December 1, 2009 through December 15, 2011.
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