OFG Bancorp announced that its Board of Directors has approved a new $50 million stock repurchase authorization plan. This initiative is part of the company's ongoing capital actions aimed at returning value to shareholders.
The newly authorized plan is open-ended, providing flexibility for the company to execute repurchases over time. This plan is in addition to any previously authorized stock repurchase programs.
Share repurchase programs can reduce the number of outstanding shares, which can lead to an increase in earnings per share and demonstrate management's belief that the company's stock is undervalued.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.