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Ryder approves share repurchase program

Ryder System Inc.'s board authorized a new share repurchase program to mitigate the dilutive impact of shares issued under the company's employee stock plans.

The new program authorizes Ryder management to repurchase up to 1.5 million shares of common stock issued to employees under Ryder's employee stock plans from Dec. 1 through Dec. 13, 2019. As of Sept. 30, the company had 52.9 million common shares outstanding.

The new program replaces Ryder's previous anti-dilutive program, which expired in December.