Hyster-Yale, Inc. (HY) announced on Monday that its Board of Directors has sanctioned a share repurchase program permitting the buyback of up to $50 million worth of shares or 1.5 million shares, depending on which limit is reached first.
Rajiv K. Prasad, President and CEO of Hyster-Yale, commented, "The Board's decision to approve this stock buyback program signifies our confidence in the Company's financial stability and future prospects."
The company also noted that the timing and quantity of the buybacks will be determined based on various factors, with the authorization set to expire by November 2027.
