OneWater Marine Adopts Its First Buyback Program

• OneWater Marine Inc (NASDAQ:ONEW) said its Board of Directors approved a share repurchase program of up to $50 million of Class A common shares.
• The plan is the company's first authorization for repurchases since its initial public offering in February 2020.
• "The Board of Directors' authorization of our inaugural share repurchase program underscores their confidence in the opportunity ahead of OneWater," said CEO Austin Singleton.
• The company held $74.8 million in cash and equivalents as of December 31, 2021.
• The company does not intend to execute the repurchase program until after the release of Q2 financial information.
• Price Action: ONEW shares closed lower by 6.53% at $34.34 on Wednesday.