Verra Mobility announces $100M share repurchase program and 3.0x leverage target

VERRA MOBILITY Corp

Board authorized up to $100M in Class A common stock repurchases over 18 months via open market, ASR, or private transactions.
Company targets net debt ratio of 3.0x adjusted EBITDA by end of 2023.
May pursue debt paydown and interest rate hedging to reduce leverage and cash interest costs.
CEO cites balanced capital allocation and strong cash flow capacity as rationale.

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