Century Bancorp (CNBKA) Approves 300K Stock Buyback Plan
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Century Bancorp Inc. (NASDAQ: CNBKA) has approved a reauthorization of the stock repurchase program. Under the program, the Company is reauthorized to repurchase up to 300,000 or less than 9% of Century Bancorp Class A Common Stock outstanding. This vote supercedes the previous program voted by the Board of Directors on July 8, 2008, which also authorized the Company to repurchase up to 300,000 or less than 9% of Century Bancorp Class A Common Stock.
The stock buy back is authorized to take place from time-to-time, subject to prevailing market conditions. The purchases will be made on the open market and will be funded from available cash. As of today, there are 3.5 million shares of Century Bancorp Class A Common Stock outstanding. [SM]
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