Stock BuybacksBy The Online Investor Staff, updated Fri., Sep. 18, 10:43 AM
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Slide #7. Textainer Group Holdings Limited
Textainer Group Holdings Limited (NYSE:TGH)
Textainer Group Holdings Limited (NYSE: TGH; JSE: TXT) ("Textainer", "the Company", "we" and "our"), one of the world's largest lessors of intermodal containers, today announced that Textainer's Board of Directors authorized an increase to the Company's share repurchase program of up to $50 million of the Company's outstanding common shares. The authorization is effective immediately and adds to the previous $50 million program, which had approximately $1.0 million remaining authorized and available for repurchase as of September 11, 2020. Purchases under the share repurchase program may be made from time to time through open market purchases, privately negotiated transactions or such other manners as will comply with applicable laws and regulations.
Textainer Group Holdings is a holding company. Through its subsidiaries, Co. is engaged in the purchase, management, leasing and resale of marine cargo containers. Co. manages and provides administrative support to the affiliated and unaffiliated owners (the Owners) of the container fleets. Co. conducts its business activities in three main areas: Container Ownership consist of standard dry freight containers, but also include refrigerated and other special-purpose containers; Container Management manages, on a worldwide basis, a fleet of containers for and on behalf of the Owners; and Container Resale buys and subsequently resells used containers (trading containers) from third parties.
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Hold (2.00 out of 4)
(ranked lower than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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