BayCom Corp Announces Cash Dividend And Adoption Of Stock Repurchase Program Of Up To 588,000 Shares Of The Company's Common Stock, Or ~5% Of Currently Outstanding Shares
Portfolio Pulse from Happy Mohamed
BayCom Corp (NASDAQ:BCML) has announced a quarterly cash dividend of $0.10 per share, payable on October 13, 2023. The company also announced its eighth stock repurchase program, authorizing the repurchase of up to 588,000 shares, or approximately 5% of currently outstanding shares, over a one-year period. The new program will commence upon completion of the seventh stock repurchase program, which will expire on April 21, 2024.
August 18, 2023 | 8:31 pm
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POSITIVE IMPACT
BayCom's announcement of a cash dividend and a new stock repurchase program could potentially increase investor interest and positively impact the stock price in the short term.
Dividends and stock repurchase programs are generally seen as positive signals by the market, as they indicate a company's confidence in its financial health and future prospects. This could potentially lead to increased demand for the stock, driving up its price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100