Butterfield authorises 2.5m share buyback
Butterfield Bank’s board of directors has authorised the repurchase of up to 2.5 million of its shares over the next 15 months.
Michael Collins, the bank’s chairman and chief executive officer, said: “Deploying capital to repurchase shares provides the bank an effective means of augmenting shareholder return.
“It reflects our belief that Butterfield shares offer good value in the market given our confidence in our continued ability to generate strong returns and realise our growth ambitions.”
Butterfield shares were trading at around $35 this morning.
The new share repurchase programme follows the completion of the bank’s previous programme, under which Butterfield repurchased the full authorised amount of one million shares at an average price of $40.15 per share.
A model experience
Mothers decry children riding motorcycles
Customers bemused to find Rosebank closed
Licensed venues questioned on event flyers
Inmate says Wolffe confessed to robbery
Local lionfish grow faster and larger
Checkmates: brothers take New York by storm
‘Giant who is gone too soon’
Lawyers clash over Brown patient files
Parents ‘could strike’ over TN Tatem plan
Robbins stars as robot on Netflix
Docksider bar beefs up security
Unlicensed drink-driver nabbed back-to-back
Pancakes and pyjamas for breakfast
App to show electric vehicle renters around
Take Our Poll
- "What is your view of finance minister Curtis Dickinson's first Budget?"
- Sensible, balanced approach with no new taxes
- Disappointing, with lack of public spending cuts
- Ignores serious long-term debt, healthcare and pension issues
- Tax increases were unnecessary as the Government needs no more money
- Total Votes: 4209
- Poll Archive