Fifth District Bancorp, Inc. announced the authorization of a stock repurchase program for up to 555,947 shares of its common stock.
The program represents 10% of shares currently outstanding and may involve open market purchases.
The Company may conduct the repurchases through a trading plan adopted under SEC Rule 10b5-1, subject to market conditions.
Stock Repurchase Program Authorized
Company authorized a repurchase program for up to 10% of outstanding shares.
- The stock repurchase program indicates the company's confidence in its financial position and potential future growth.
- Investors may view the program positively as it signals management's belief in the company's value.
The authorization of the stock repurchase program reflects Fifth District Bancorp's strategic approach to capital management and shareholder value enhancement.