Thor Industries’ board of directors increased the company’s share repurchase authorization to $600 million. The board extended the repurchase period by seven months.
“We have been aggressively buying shares in the market since our share repurchase authorization was announced in December 2021, and have purchased more than 1 million Thor shares to date,” said Bob Martin, Thor Industries president and CEO.
Thor authorized company management to use up to $250 million to purchase shares of the company’s common stock through Dec. 21, 2024, with over $151.6 million remaining on the authorization as of June 24.
Thor authorized management to use up to an additional $448.3 million to purchase shares of the company’s common stock through July 31, 2025, bringing the total authorization to $600 million.
“We continue to believe that Thor shares present a compelling investment opportunity at current share prices,” Martin said. “We intend to continue to take advantage of this opportunity to create value by returning capital to shareholders through additional share purchases. Given the current stock price, we believe purchasing Thor shares represents the best risk-adjusted return for our cash.”
