Riverview Bancorp (RVSB) Announces Stock Repurchase Program
- Dow, S&P post worst week in months after hawkish Fed spooks investors
- Fed-fueled dollar rises as bears make for exits
- Adobe (ADBE) Edges Higher After Topping Q2 Estimates, Analysts Raise PT on 'Impressive' Performance
- Fed Statement Very Bullish for Tech Stocks, Focus on Cloud and Cyber Stocks - Wedbush
- You Fight Real Physical Inflation With Rate Hikes, Not Talk of Rate Hikes; Buy the Dip in Commodities, Gold Underpriced - Goldman Sachs
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) headquartered in Vancouver, WA, the holding company parent of Riverview Community Bank, today announced that its Board of Directors has adopted a stock repurchase program. Under this repurchase program, the Company may repurchase up to $5 million of the Company’s outstanding shares, in the open market, based on prevailing market prices, or in privately negotiated transactions, over a period beginning on June 21, 2021 continuing until the earlier of the completion of the repurchase or the next six months, depending upon market conditions.
The Board of Directors of the Company also authorized management to enter into a trading plan with Keefe, Bruyette & Woods, Inc. in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Act”), to facilitate repurchases of its common stock pursuant to the above mentioned stock repurchase program (the “Rule 10b5-1 plan”). The Rule 10b5-1 plan would allow the Company to execute trades during periods when it would ordinarily not be permitted to do so because it may be in possession of material non-public information, because of insider trading laws or self-imposed trading blackout periods. Under the Rule 10b5-1 plan, Keefe, Bruyette & Woods, Inc. would have the authority, under the prices, terms and limitations set forth in the Rule 10b5-1 plan, including compliance with Rule 10b-18 of the Act, to repurchase shares on the Company’s behalf.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ArcelorMittal (MT) Sells Remaining 38.2M Shares of Cleveland-Cliffs (CLF), Announces $750M Buyback
- Kroger lifts annual forecasts as online grocery investments click
- Bogota Financial (BSBK) Announces Adoption of Repurchase Program
Create E-mail Alert Related CategoriesCorporate News, Stock Buybacks
Related EntitiesKeefe, Bruyette & Woods, Stock Buyback
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!