BlueLinx Holdings Inc. (NYSE:BXC), a leading U.S. wholesale distributor of building products, announced today that its Board of Directors has approved a new share repurchase authorization under which the Company may repurchase $100 million of its outstanding shares of common stock in accordance with all applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The new authorization will be funded through a combination of cash on hand and cash flow from operations. The Company completed its prior $100 million share repurchase program in early fiscal October 2023.
The Company’s decision to repurchase its shares, as well as the timing of such repurchases, will depend on a variety of factors, including the ongoing assessment of the Company’s capital needs, the market price of the Company’s common stock, general market conditions and other corporate considerations, as determined by management. The authorization does not obligate the Company to acquire any particular amount of its common stock and may be suspended or discontinued at any time.
For further information, please see the Company’s current report on Form 8-K filed with the Securities and Exchange Commission on October 31, 2023.
