CAI International Board Authorizes 1.5 Mln Share Repurchase Program

(RTTNews) - CAI International, Inc. (CAP) said Thursday that its Board of Directors has approved a stock repurchase program, under which the company is authorized to repurchase up to 1.5 million shares of its outstanding common stock from time to time and at prices considered appropriate by the company depending upon share price and prevailing economic and market conditions.

The stock repurchases may be made in the open market, block trades or privately negotiated transactions.

The primary purpose of the program is to allow CAI the flexibility to repurchase its common stock to return value to stockholders.

The program supersedes and replaces the prior stock repurchase program authorized in 2011 for the repurchase of up to one million shares of common stock.