logo
Share SHARE
FONT-SIZE Plus   Neg

Simplicity Bancorp Announces Fourth Stock Buyback Program

Simplicity Bancorp, Inc. (SMPL), the holding company for Simplicity Bank, said Friday that its Board of Directors authorized the fourth stock repurchase program pursuant to which the company plans to repurchase up to 5% of its issued and outstanding shares upon completion of the third stock repurchase program, or up to about 413,081 shares.

The timing of the repurchases will depend on certain factors, including but not limited to, market conditions and prices, the Company's liquidity requirements and alternative uses of capital.

Since November 30, 2011, the company has repurchased about 1.35 million shares at prices ranging from $12.00 to $15.44 per share with an average price of $14.29 per share. There are 24,145 shares remaining to be repurchased under the previous repurchase programs.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
French car maker Renault SA reported Friday higher profit in its fiscal 2015, with strong growth in automotive profit and revenues. The company announced higher dividend. Looking ahead, for fiscal 2016, Renault expects to increase group revenues at constant exchange rates and improve group operating margin. Shares of Rolls-Royce Holdings Plc were gaining around 13 percent in the morning trading in London after the engine maker reported more-than doubled profit in its fiscal year 2015, with lower one-time items. Underlying earnings were hurt by weakness in Marine markets. Further, the company halved its dividends, and still expects lower revenues next year. German steel giant ThyssenKrupp AG reported a loss in its first quarter, compared to last year's profit as sales and orders were hurt by sharp deterioration in materials businesses. The company said its overall performance in the first quarter was within its full-year forecast corridor. Looking ahead, the company continues to expect higher net income and flat sales for fiscal 2016.
comments powered by Disqus
Follow RTT