Marten Transport, Ltd. Buyback
OLI recorded this information on 11/4/2015
Marten Transport, Ltd.
Marten Transport, Ltd. (Nasdaq/GS:MRTN) announced today that its board of directors has approved an increase in its share repurchase program providing for the repurchase of up to $40 million, or approximately 2 million shares, of its common stock. The program will be funded out of existing cash flow and borrowings under the Company's credit facility.
Marten Transport is a temperature-sensitive truckload carrier focusing on transporting and distributing food and other consumer packaged goods that require a temperature-controlled or insulated environment. Co. has four reporting segments: Truckload, which provides a combination of regional short-haul and medium-to-long-haul full-load transportation services; Dedicated, which provides customized transportation solutions; Intermodal, which transports its customers' freight utilizing its temperature-controlled trailers and refrigerated containers on railroad flatcars; and Brokerage, which develops contractual relationships with and arranges for third-party carriers to transport freight.
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Buy (3.00 out of 4)