McArthur, Chief Executive Officer of the Company, stated that, "Under our most recent stock repurchase program
, which was commenced in January, 2002, and which concluded earlier this month, the Company repurchased 81,700 shares of its Common Stock, at the average purchase price of approximately $11.
The stock repurchase program
is designed to increase economic value for shareholders and to offset share issuances under the Company's employee compensation plans.
Under the new stock repurchase program
, the Company may purchase through December 31, 2007, as market conditions warrant and from time to time on the open market, up to $25 million of its Class A Common Stock or, based on a closing price of $25.
Doherty, President of the Company, previously stated that the Board of Directors has authorized the third stock repurchase program
because the Board of Directors considers the Company's common stock to be an attractive investment.
The Company expects to implement the third program following the completion of its second stock repurchase program adopted in October 1999, pursuant to which the Company announced it would repurchase up to 93,583 shares over a twelve-month period.
stated that the Board of Directors has authorized the third stock repurchase program because the Board considers the Company's common stock an attractive investment.
NYSE: CA) announced today that it has amended the terms of its Common Stock Repurchase Program
to allow share repurchases in privately negotiated transactions in addition to repurchases in open market transactions.
OTC:MCBF), parent company of Metro Commerce Bank ("Metro"), said Friday it has substantially completed its additional stock repurchase program
originally announced in October 1998.
6, 1998--IDT (Nasdaq:IDTI) today announced that its board of directors has terminated the company's stock repurchase program
Concurrently with its stock repurchase program
, the Company has initiated negotiations for the sale of a substantial equity stake in the Company's common stock at a per share price substantially in excess of current trading levels.
The corporation has completed nine similar stock repurchase programs
since converting to stock form on March 18, 1993.
First Federal Financial Corporation of Kentucky (NASDAQ: FFKY) announced today that it is commencing another stock repurchase program
to acquire up to 5% of the corporation's currently outstanding shares of common stock.