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WillScot Mobile Mini Board of Directors Replenishes Share Repurchase Authorization to $1 Billion

May 04, 2023 at 16:01 PM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

PHOENIX, May 04, 2023 (GLOBE NEWSWIRE) -- WillScot Mobile Mini Holdings Corp. (“WillScot Mobile Mini” or the “Company”) (Nasdaq: WSC), the North American leader in innovative flexible space and storage solutions, today announced that its Board of Directors has replenished the Company’s share repurchase authorization to $1.0 billion as of May 3, 2023.

Brad Soultz, Chief Executive Officer, commented, "As our cash flow has continued to accelerate, we have remained steadfast in execution against the capital allocation framework we introduced at our November 2021 Investor Day. First, we will continue to fund our organic growth trajectory, which is underpinned by our $1 billion portfolio of idiosyncratic growth levers. Second, we have and expect to continue to invest in smart and highly accretive acquisitions. Finally, we have allocated the balance of our available capital towards leverage maintenance and returns to shareholders. Over the last 12 months as of March 31, 2023, we repurchased 22.4 million of our common shares for $895 million, representing a 9.5% reduction in our economic share count and a powerful economic return for our shareholders. In support of the continuation of our current capital allocation framework, our Board of Directors proactively replenished our $1.0 billion share repurchase authorization.”

About WillScot Mobile Mini

WillScot Mobile Mini trades on the Nasdaq stock exchange under the ticker symbol “WSC.” Headquartered in Phoenix, Arizona, the Company is a leading business services provider specializing in innovative flexible space and storage solutions. WillScot Mobile Mini services diverse end markets across all sectors of the economy from a network of approximately 240 branch locations and additional drop lots throughout the United States, Canada, and Mexico.

Additional Information and Where to Find It

Additional information can be found on the company's website at www.willscotmobilemini.com.