W. P. Carey & Co. (WPC) Authorizes the Repurchase of up to $10 Million in Common Stock
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W. P. Carey & Co. LLC (NYSE: WPC) has approved a share repurchase program authorizing the repurchase of up to $10 million of the Company's outstanding shares from October 13, 2008 through December 15, 2008 or the date that the maximum amount has been purchased, if earlier. It is intended that the shares will be purchased through a Rule 10b5-1 plan.
The Company has maintained a stable capital base and considers this $10 million investment in our shares at this time to be appropriate.
W. P. Carey & Co. LLC is a real estate advisory and investment company that invests primarily in commercial properties that are each triple-net leased to single corporate tenants, in the United States and internationally.[SM]
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