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AP News

OshKosh to buyback $300M shares

OSHKOSH, Wis. (AP) — Truck manufacturer Oshkosh Corp. said Friday it will repurchase up to $300 million shares of common stock over the next 12 to 18 months, with at least $75 million in the next three months.

The announcement expands the company's previous repurchase July offer to 11 million shares, or about 12 percent of the company's outstanding shares as of Sept. 12. The company plans to fund the repurchases through cash holdings and operating revenues.

Since July, Oshkosh has repurchased about 550,000 shares worth approximately $13.4 million.

Oshkosh shares rose 17 cents to $27.25.

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