GAMCO Investors (GBL) Approves 500K Class A Buyback
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GAMCO Investors (NYSE: GBL) authorized the repurchase of up to an additional 500,000 shares of its Class A Common Stock at such times, prices and amounts to be determined by the company. After this additional authorization, there are 652,443 shares authorized and available for repurchase under GAMCO’s stock repurchase program. Since our 1999 IPO in which we sold six million shares at a price of $17.50 per share, we have returned $773.7 million to our shareholders through dividends and stock repurchases. We have repurchased 8.5 million shares at an average price of $41.65 per share for an investment of $353.3 million and paid cumulative dividends of $420.4 million or $16.30 per share.
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