Bar Harbor Bankshares Announces A Stock Repurchase Program Of Up To 5% Of The Co's Outstanding Common Stock, Representing ~761,000 Shares As Of March 31, 2024
Portfolio Pulse from Benzinga Newsdesk
Bar Harbor Bankshares (BHB) announced a stock repurchase program to buy back up to 5% of its outstanding shares, approximately 761,000 shares, within the next twelve months. Additionally, BHB declared a cash dividend of $0.30 per share, payable on June 14, 2024, with a 4.53% annualized yield based on the closing share price as of March 28, 2024.
April 18, 2024 | 8:32 pm
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Bar Harbor Bankshares plans to repurchase up to 5% of its shares and declared a $0.30/share dividend, indicating strong financial health and shareholder value focus.
The announcement of a stock repurchase program typically signals a company's confidence in its financial stability and future prospects, often leading to a positive short-term impact on its stock price. Additionally, declaring a cash dividend with a significant yield further emphasizes the company's commitment to returning value to its shareholders, which can also positively influence investor sentiment and the stock price.
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