MAGYAR BANCORP, INC. ANNOUNCES STOCK REPURCHASE PROGRAM
Magyar Bancorp (NASDAQ: MGYR) has announced the completion of its previous stock repurchase program initiated on December 8, 2022, successfully repurchasing 337,146 shares at an average price of $12.23 per share. The company's Board of Directors has now authorized a new stock repurchase program to buy back up to 5% of its outstanding shares, equivalent to 323,547 shares. The implementation timeline will be influenced by market conditions, prices, liquidity requirements, and alternative capital uses. Repurchased shares will be held as treasury stock for general corporate purposes.
Magyar Bancorp (NASDAQ: MGYR) ha annunciato il completamento del precedente programma di riacquisto azionario avviato l'8 dicembre 2022, con l'acquisto di 337.146 azioni a un prezzo medio di 12,23 $ per azione. Il Consiglio di Amministrazione ha ora autorizzato un nuovo programma di riacquisto azionario per riacquistare fino al 5% delle azioni in circolazione, pari a 323.547 azioni. Il periodo di attuazione dipenderà dalle condizioni di mercato, dai prezzi, dalle esigenze di liquidità e da altre possibili destinazioni del capitale. Le azioni riacquistate saranno detenute come azioni proprie per scopi societari generali.
Magyar Bancorp (NASDAQ: MGYR) ha anunciado la finalización de su anterior programa de recompra de acciones iniciado el 8 de diciembre de 2022, habiendo recomprado con éxito 337,146 acciones a un precio promedio de $12.23 por acción. La Junta Directiva de la compañía ha autorizado ahora un nuevo programa de recompra para adquirir hasta el 5% de sus acciones en circulación, equivalente a 323,547 acciones. El cronograma de implementación estará influenciado por las condiciones del mercado, los precios, los requisitos de liquidez y otros usos alternativos del capital. Las acciones recompradas se mantendrán como acciones en tesorería para fines corporativos generales.
Magyar Bancorp (NASDAQ: MGYR)는 2022년 12월 8일 시작한 이전 자사주 매입 프로그램을 성공적으로 완료했으며, 평균 주당 $12.23에 337,146주를 매입했습니다. 회사 이사회는 현재 발행 주식의 5%에 해당하는 323,547주까지 매입할 수 있는 새로운 자사주 매입 프로그램을 승인했습니다. 시행 일정은 시장 상황, 가격, 유동성 요구사항 및 자본의 대체 사용에 따라 달라질 수 있습니다. 매입한 주식은 일반 기업 목적을 위해 자사주로 보유됩니다.
Magyar Bancorp (NASDAQ : MGYR) a annoncé l’achèvement de son précédent programme de rachat d’actions lancé le 8 décembre 2022, ayant racheté avec succès 337 146 actions au prix moyen de 12,23 $ par action. Le conseil d’administration a désormais autorisé un nouveau programme de rachat d’actions visant à racheter jusqu’à 5 % de ses actions en circulation, soit 323 547 actions. Le calendrier de mise en œuvre dépendra des conditions du marché, des prix, des besoins de liquidité et des autres usages possibles du capital. Les actions rachetées seront conservées en tant qu’actions propres à des fins générales de l’entreprise.
Magyar Bancorp (NASDAQ: MGYR) hat die Fertigstellung seines vorherigen Aktienrückkaufprogramms, das am 8. Dezember 2022 gestartet wurde, bekannt gegeben und erfolgreich 337.146 Aktien zu einem durchschnittlichen Preis von 12,23 $ pro Aktie zurückgekauft. Der Vorstand hat nun ein neues Aktienrückkaufprogramm genehmigt, um bis zu 5 % der ausstehenden Aktien zurückzukaufen, was 323.547 Aktien entspricht. Der Zeitplan für die Durchführung wird von den Marktbedingungen, Preisen, Liquiditätsanforderungen und alternativen Kapitalverwendungen abhängen. Die zurückgekauften Aktien werden als eigene Aktien für allgemeine Unternehmenszwecke gehalten.
- Successfully completed previous buyback program of 337,146 shares
- New buyback program authorized for additional 5% of outstanding shares (323,547 shares)
- Demonstrates company's confidence in its financial position and commitment to returning value to shareholders
- Buyback execution timing is uncertain and subject to market conditions
- Program may impact company's liquidity and cash reserves
About Magyar Bancorp
Magyar Bancorp is the parent company of Magyar Bank, a community bank headquartered in
Forward Looking Statements
This press release contains statements about future events that constitute forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward- looking terminology, such as "may," "will," "believe," "expect," or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those risks previously disclosed in the Company's filings with the SEC, general economic conditions, changes in interest rates, regulatory considerations, competition, technological developments, retention and recruitment of qualified personnel, and market acceptance of the Company's pricing, products and services, and with respect to the loans extended by the Bank and real estate owned, the following: risks related to the economic environment in the market areas in which the Bank operates, particularly with respect to the real estate market in
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SOURCE Magyar Bancorp
FAQ
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