Investar Holding Corporation Declares Quarterly Cash Dividend and Announces Additional Authorization under Share Repurchase Program
March 17, 2021
Share Repurchase Program
The Company also announced that the Board of Directors has approved another 300,000 shares of the Company’s common stock for repurchase under a stock repurchase program, in addition to 51,435 shares remaining under the current repurchase program. The additional shares authorized for repurchase represent approximately 3% of the Company’s outstanding common stock. Recent stock buyback activity includes 661,504 shares that were repurchased by the Company during the year ended
The timing and amount of any share repurchases will depend on a variety of factors, including the trading price of the Company’s common stock, securities laws and other regulatory restrictions, potential alternative uses for capital, and market and economic conditions. Repurchased shares will become treasury shares and may be reissued in connection with the Company’s stock incentive plans, other compensation programs, other transactions, or for other corporate purposes. The repurchase program does not obligate the Company to repurchase any shares and will remain in effect until fully utilized or until modified, suspended or terminated.
This press release may include forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current expectations and assumptions about our business that are subject to a variety of risks and uncertainties that could cause the actual results to differ materially from those described in this press release. You should not rely on forward-looking statements as a prediction of future events. Additional information regarding factors that could cause actual results to differ materially from those discussed in any forward-looking statements are described in reports and registration statements we file with the
We disclaim any obligation to update any forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based except as required by law.
Chief Financial Officer