On November 21, Catalyst Bancorp Inc Registrant's Board Approved Company's Third Share Repurchase Program; Under Nov 2023 Repurchase Plan, May Purchase Up To 240,000 Shares, Or About 5%, Of Co's Outstanding Common Stock
Portfolio Pulse from Benzinga Newsdesk
Catalyst Bancorp Inc's Board has approved the company's third share repurchase program, according to an SEC filing. Under the new plan, the company is authorized to repurchase up to 240,000 shares, which is approximately 5% of its outstanding common stock.
November 22, 2023 | 8:42 pm
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Catalyst Bancorp Inc has initiated a new share repurchase program to buy back up to 240,000 shares, representing around 5% of the outstanding common stock.
Share repurchase programs are typically viewed positively by the market as they can indicate that the company believes its stock is undervalued and that it is confident in its financial position. The repurchase of 5% of outstanding shares can also be seen as a significant commitment to returning value to shareholders, which may lead to a short-term increase in the stock price.
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