Driving efficiency of share repurchases under new $1 billion share repurchase authorization
The ODP Corporation ("ODP," or the "Company") (NASDAQ:ODP), a leading provider of products, services, and technology solutions to businesses and consumers, today announced that it has partnered with Matthews South to assist in optimizing the initial quarterly execution of its share repurchases under its newly authorized $1 billion share repurchase program. Matthews South is a leading capital markets advisory and software firm transforming the way public and private companies make capital markets decisions through data-driven analytics.
"We partnered with Matthews South to enhance the initial execution of our new share repurchase plan, which further emphasizes our commitment to our low-cost business model and capital allocation strategy," said Tim Perrott, vice president of investor relations and treasurer of The ODP Corporation. "We are leveraging their expertise and analytical framework to further optimize the execution of our new $1 billion share repurchase plan, aligning seamlessly with our focus on maximizing long-term value for shareholders."
"We're excited to work with ODP on their share repurchase plan and are confident that our data-driven analytics and software solutions will be a great asset in assisting in optimizing the execution under its new share repurchase plan," said Vijay Culas, co-founder of Matthews South.
The share repurchase program may be suspended or discontinued at any time. The exact number and timing of stock repurchases will depend on market conditions and other factors and will be funded through available liquidity.