Ambac (ABK) Announces Board Authorization for $50 Million Stock Buyback Program
More News related to ABK
- Unusual 11 Mid-Day Movers 9/3: LNCB, URRE, ABK, SSCC Higher; FRX, REV, SD, JOYG Lower
- Active Equity option families in first 30-minutes of Trading: ABK AAPL QCOM BAC C
- Pre-Open Movers 9/3: Medivation (MDVN) Surges On Pfizer Deal; Corning (GLW) Sinks on Warning
- After-Hours Movers 9/2: Ethan Allen (ETH) and ConAgra (CAG) Down On Lower Guidance; NCI Building (NCS) Up on Strong Results
- Ambac Releases Selected Monthly Data for July 2008
Ambac Financial Group (NYSE: ABK) announced that its Board has authorized up to $50 million for share repurchases of its common stock. The repurchase of shares under the Stock Repurchase Program is conditioned up the completion of the offering of shares by the underwriters of its March 2008 offering. We are unable to predict when the offering will be completed.
Ambac President and Chief Executive Officer, Michael Callen, stated, "The Board of Directors of Ambac believes that share buyback, when permitted under regulatory rules and corporate policy, represents a good investment of our capital and reinforces our confidence in the long-term stability of our company."
Ambac Financial Group is a holding company whose affiliates provide financial guarantees and financial services to clients in both the public and private sectors around the world.
Related Categories
Stock BuybacksStocks Mentioned
-0.13Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
