Ardmore Shipping Corporation announced that it repurchased 1.56 million shares of its common stock during December 2024. This represents approximately 4% of the company's outstanding common stock.
The shares were repurchased under Ardmore's share repurchase plan at a weighted average price of $11.49 per share. The total cost of these repurchases amounted to $17.9 million.
This significant share repurchase activity demonstrates Ardmore's commitment to returning capital to shareholders and reflects management's view of the company's value. Reducing the share count can enhance earnings per share for remaining shareholders.
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