Bank of America Corp (NYSE:BAC) has announced a plan to suspend the repurchase of stock
after it found that it has miscalculated its capital levels.
Global Banking News-February 3, 2011--Fifth Third completes repurchase of stock
offered under TARP(C)2011 ENPublishing - http://www.
1091 wash-sales rules do not apply to the sale and repurchase of stock
or securities if the position is sold at a gain.
Alexander Trotman, the chairman and chief executive, mentioned at a meeting here with financial analysts Wednesday that if Ford someday found itself with excess cash reserves, it might consider a repurchase of stock
among other options, four analysts who attended the meeting said.
Allowing for the repurchase of stock
and the payment of dividends, in addition to amounts repurchased prior to June 9, 2006, of up to $50.
Ivo Tjan, chairman and CEO, said, 'The repurchase of stock
supports the confidence that management has in our company today and in the future.
The list includes amounts paid to repurchase stock, premiums paid for stock, legal, accounting, brokerage, transfer agent, appraisal and similar fees incurred in connection with the repurchase of stock
, and any other amount necessary or incident to the stock repurchase.
We continue to believe that the repurchase of stock
from time to time represents a favorable and prudent investment opportunity for the Company, which should enhance earnings per share, return on equity and shareholder value.
This increased authorization reflects Board and management agreement that there are opportunities to maximize shareholder value by balancing capital allocation into the business, the payment of dividends and the repurchase of stock
, while still maintaining a strong balance sheet.
The transaction, made to refinance existing debt and recapitalize the company through the repurchase of stock
from minority shareholders, will increase the holdings of NMCG Holdings, the family investment vehicle of C/G Chairman Nathan Milikowsky, as well as management's ownership position.
The Company has completed the repurchase of stock
under a previously granted authority, also in the amount of $70 million.
0 million associated with the repurchase of stock
options from the Whitmans that will be reflected as compensation expense for financial reporting purposes, $1.