Camden National Corporation (CAC) Extends Stock Repurchase Program
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Robert W. Daigle, president and chief executive officer of Camden National Corporation (NASDAQ: CAC), announced today that the Board of Directors of Camden National has renewed the Company's Common Stock Repurchase Program for an additional one-year term. The renewal will allow for the repurchase of 750,000 shares of the Company's outstanding common stock over the next year.
Since the inception of the Company's Stock Repurchase Program in 2001, the Company has repurchased 919,003 shares at an average price of $30.10. In addition, on May 9, 2006, the Company concluded a modified "Dutch Auction" tender offer whereby it repurchased an aggregate 880,827 shares of its common stock at a purchase price of $39.00 per share.
Camden National Corporation, ranked in the top 20 in US Banker's 2008 list of top-performing mid-tier banks.
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