Bankrate (RATE) Begins $50 Million Stock Buyback Program
More News related to RATE
- Bankrate: Mortgage Rates Fall But Spreads at 22-Year High
- Msnbc.com Now Offering Rates Fresh Daily
- New York, Texas, and Florida Top the Nation in Closing Costs
- Bankrate: Mortgage Rates Up Slightly
- Bankrate (RATE) Reports Q2 In-Line; Guides FY08 Revenue
More News related to Stock Buybacks
- North American Galvanizing & Coatings (NGA) Announces 4-for-3 Stock Split; Adds $3M to Buyback
- MSB Financial (MSBF) Announces Buyback Program for Up to 5% of Outstanding Shares
- PCTEL (PCTI) Approves Additional One Million Share Buyback
- Orbit International (ORBT) Approves $3 Million Stock Buyback
- Westell Technologies (WSTL) Announces Update on Stock Repurchases
Bankrate (Nasdaq: RATE) announced it's acting on its stock repurchase program. The company's Board of Directors previously authorized management to make stock repurchases for up to 50 million dollars.
"We believe the current valuation of Bankrate's common shares makes the repurchase of our equity a solid investment for the company and will be accretive to shareholder value," said Thomas R. Evans, President and CEO of Bankrate, Inc. "We have over $75 million in cash and our business is growing and generating excellent cash flow which allows for investing in Bankrate stock as well as continuing to seek accretive strategic acquisitions to assist in executing on our plan," Mr. Evans added.
The Bankrate network of companies includes Bankrate.com, Interest.com, Mortgage-calc.com, Nationwide Card Services, Savingforcollege.com, Fee Disclosure and InsureMe. Each of these businesses helps consumers to make informed decisions about their personal finance matters.
Related Categories
Stock BuybacksStocks Mentioned
-0.39Sign 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!
