Oconee Federal authorizes repurchase of up to 150,000 shares

Oconee Federal Financial Corp. (OTCQX: OFED) announced a stock repurchase program authorizing the purchase of up to 150,000 shares of its common stock, representing approximately 2.86% of the company's issued and outstanding shares.

The Seneca, South Carolina-based holding company for Oconee Federal Savings and Loan Association said the timing of purchases will depend on factors including market conditions and prices, available funds, and alternative uses of capital.

Repurchases may be conducted through open-market purchases, block trades, negotiated private transactions, or pursuant to a trading plan adopted in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934. Any repurchased shares will be held as treasury shares.

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