Consolidated-Tomoka Land (CTO) Approves $8M Buyback; Sees Cutting Qtr. Dividend to $0.025/Share
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Consolidated-Tomoka Land Co. (AMEX: CTO) today announced that its Board of Directors has authorized a program to repurchase shares of the Company's common stock having an aggregate value of up to $8 million.
The Company anticipates reducing its quarterly dividend to $0.025 per share, effective for the 2009 first quarter dividend to fund the program.
Consolidated Tomoka Land Co., through its subsidiaries, engages in real estate, income properties, and golf operations in the United States.
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