Alesco Financial (AFN) Announces Buyback of Convertible Notes; Suspends Dividend
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Alesco Financial Inc. (NYSE: AFN) announced that the Company has bought back $78.8 million aggregate principal amount of its 7.625% Contingent Convertible Senior Notes due 2027 for $33.0 million in cash, or an average price of $41.8.
As a result, the Company's board of directors has decided to suspend the dividend for the third quarter of 2008. Decisions regarding future dividends will continue to consider projections regarding our taxable income and liquidity position and will remain subject to the review and approval of the board of directors.[SM]
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