Cowen Board of Directors Approves Increase in Share Repurchase Program to $50 million

Rhea-AI Summary

Cowen Inc. (NASDAQ:COWN) has announced an increase in its share repurchase program, bringing the total available for repurchase to $50 million. This move reflects the company's commitment to returning value to shareholders and enhancing stock performance. The updated program aims to utilize available funds effectively to support stock price stability. Cowen is recognized for its diversified financial services, including investment banking, research, and trading.

Positive

• Increase in share repurchase program to $50 million, aimed at supporting shareholder value.
• Demonstrates confidence in the company's financial health and future growth potential.

Negative

• None.

News Market Reaction – COWN

+2.79%

+2.79% Session move

In the trading session that priced this news, COWN gained 2.79%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, June 22, 2021 (GLOBE NEWSWIRE) -- Cowen Inc. (NASDAQ:COWN) (“Cowen” or the “Company) today announced that its Board of Directors has approved an increase in the Company’s existing share repurchase program (the “Share Repurchase Program”). With this increase, the total amount now available for repurchase under the current plan is $50 million.

About Cowen Inc.

Cowen Inc. (“Cowen” or the “Company”) is a diversified financial services firm offering investment banking services, equity and credit research, sales and trading, prime brokerage, global clearing, commission management services and actively managed alternative investment products. Cowen focuses on delivering value-added capabilities to our clients in order to help them outperform. Founded in 1918, the Company is headquartered in New York and has offices worldwide. Learn more at Cowen.com

For further information, contact:

Cowen Inc.
J.T. Farley, Investor Relations
(646) 562-1056
james.farley@cowen.com

FAQ

What is the new amount for Cowen's share repurchase program?

The new amount for Cowen's share repurchase program is $50 million.

What was the purpose of increasing the share repurchase program for COWN?

The purpose of increasing the share repurchase program is to enhance shareholder value and support stock price stability.

How does Cowen's share buyback impact investors?

The share buyback is expected to boost stock performance and return value to shareholders.