Lamar Advertising Company Buyback
OLI recorded this information on 9/20/2021
Lamar Advertising Company
Lamar Advertising Company (Nasdaq: LAMR), a leading owner and operator of outdoor advertising and logo sign displays, announces that its board of directors has authorized the extension of its existing (i) stock repurchase program, which provides for the repurchase up to $250 million of its Class A common stock and (ii) its debt repurchase program, which provides for the repurchase by Lamar Media Corp., its wholly owned subsidiary, of up to $250 million of Lamar Media Corp.'s outstanding senior notes and other indebtedness outstanding from time to time under Lamar Media Corp.'s credit agreement. The repurchase programs, which were previously set to expire on September 30, 2021, have been extended through March 31, 2023. The repurchase programs may be further extended, suspended or discontinued at any time.
Lamar Advertising is a real estate investment trust and an outdoor advertising company. Co. leases space for advertising on billboards, buses, shelters, benches, logo plates and in airport terminals. Co.'s outdoor advertising displays are: billboards, in which Co. leases its advertising space on bulletins and posters; logo signs, which erects logo signs that advertise nearby gas, food, camping, lodging and other attractions, and directional signs that direct vehicle traffic to nearby services and tourist attractions, near highway exits; and transit advertising displays, in which Co. rents transit advertising displays in airport terminals and on bus shelters, benches and buses.
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Buy (2.67 out of 4)