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Benzinga
Benzinga
Business
Shivani Kumaresan

OneWater Marine Adopts Its First Buyback Program

ONEW (Organization) Board of Directors Nasdaq
  • OneWater Marine Inc (NASDAQ:ONEW) said its Board of Directors approved a share repurchase program of up to $50 million of Class A common shares.
  • The plan is the company's first authorization for repurchases since its initial public offering in February 2020.
  • "The Board of Directors' authorization of our inaugural share repurchase program underscores their confidence in the opportunity ahead of OneWater," said CEO Austin Singleton.
  • The company held $74.8 million in cash and equivalents as of December 31, 2021.
  • The company does not intend to execute the repurchase program until after the release of Q2 financial information.
  • Price Action: ONEW shares closed lower by 6.53% at $34.34 on Wednesday.
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