OFG Bancorp's Board of Directors has approved a new $100 million stock repurchase authorization plan. This significant capital action is designed to enhance shareholder value.
The new repurchase plan is open-ended, allowing the company flexibility in its execution. This authorization is in addition to any existing stock repurchase programs.
A $100 million share repurchase program signals management's confidence in the company's financial strength and its commitment to returning capital to shareholders. Such programs can lead to a reduction in the number of outstanding shares, potentially boosting earnings per share.
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