Manhattan Bridge Capital Expands Share Buyback Program to 250,000 Shares
Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) has increased its common share repurchase authorization to 250,000 shares, up from the previous limit of 100,000 shares. Along with the expansion, the company extended the buyback program for another 12 months. Under this plan, the timing and volume of any share purchases will remain at the discretion of the company.
This move represents an increase of 150,000 shares in potential buying capacity. Companies often expand buyback programs to return capital to shareholders and support their earnings per share by reducing the overall number of outstanding shares. On the day of the announcement, shares of the company fell 3.55% to 3.53 USD.
Investors will likely monitor future regulatory disclosures to see the actual pace and volume of the share repurchases, which will reveal how actively the company is executing the authorized program.
Key points
- Manhattan Bridge Capital increased its share buyback limit from 100,000 to 250,000 shares.
- The company extended the duration of the repurchase program for an additional 12 months.
- Actual share purchases remain at the discretion of the company.
- Shares of the company declined 3.55% to 3.53 USD on the day of the announcement.
Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org
How we writeDisclaimerQuestions and answers
What is the new share buyback limit for Manhattan Bridge Capital?
Manhattan Bridge Capital has increased its share repurchase limit to 250,000 shares, up from 100,000 shares.
How long was the Manhattan Bridge Capital buyback program extended?
The company has extended the share repurchase program for an additional 12 months.
How will Manhattan Bridge Capital execute the share repurchases?
The timing and amount of the share purchases will be conducted at the discretion of the company.