Universal Insurance (UVE) Completes $3M Buyback Program; to Evaluate Potential Future Buyback Programs
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Universal Insurance Holdings, Inc. (AMEX: UVE) announced the completion of the Company's $3 million common stock repurchase program. The common stock repurchase program was authorized by the Company's board of directors on June 25, 2008. In total the Company repurchased 808,900 shares for an average price of $3.71 per share.
The Company's board of directors intends to evaluate the possibility of future stock repurchase programs subject to business conditions, the Company's financial position, and requirements for working capital and other corporate purposes.
Universal Insurance Holdings, Inc., through its subsidiaries, operates as an insurance company.
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