Arrow Declares December 2023 Cash Dividend Of $0.27; Announces Resumption Of Dividend Reinvestment Plan And Expansion Of Its Stock Repurchase Program
Portfolio Pulse from Happy Mohamed
Arrow Financial Corporation (AROW) has declared a quarterly cash dividend of $0.27 per share, marking the 42nd consecutive quarterly cash dividend. The company is also resuming its Dividend Reinvestment Plan (DRIP) and expanding its stock repurchase program by $5 million, bringing the total availability to $9.1 million. The company expects to resume repurchases in the coming months.
October 26, 2023 | 9:19 pm
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POSITIVE IMPACT
AROW's declaration of a consistent dividend, resumption of DRIP, and expansion of its stock repurchase program could attract investors seeking steady income and potential capital appreciation.
Dividends and stock repurchase programs are often seen as signs of a company's financial health and confidence in its future prospects. The resumption of the DRIP allows shareholders to reinvest their dividends back into the company, potentially leading to capital appreciation over time. The expansion of the stock repurchase program could also lead to a reduction in the number of shares outstanding, potentially boosting the company's earnings per share and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100