International Bancshares Corporation Extends Its Stock Repurchase Program
04 11월 2006 - 7:36AM
Business Wire
International Bancshares Corporation (NASDAQ:IBOC) announced that
on November 2, 2006, its board of directors extended the
termination date on its stock repurchase program. The Company is
now authorized to conduct stock repurchases through December 2007,
compared to the prior program termination date of December 2006.
Under the program, the Company is authorized to repurchase up to
$200 million of its common stock. Stock repurchases may be made
from time to time, on the open market or through private
transactions. Shares repurchased in this program will be held in
treasury for reissue for various corporate purposes, including
employee stock option plans. As of October 31, 2006, a total of
4,839,040 shares had been repurchased under this program at a total
cost of approximately $178.6 million, adjusted for stock dividends.
The Company currently has invested approximately $199.6 million in
treasury shares, which amount has been accumulated since the
inception of the Company. IBC is a $10.6 billion multi-bank
financial holding company headquartered in Laredo, Texas, with more
than 200 facilities and more than 330 ATMs serving more than 90
communities in Texas and Oklahoma. �Safe Harbor� statement under
the Private Securities Litigation Reform Act of 1995: The
statements contained in this release which are not historical facts
contain forward looking information with respect to plans,
projections or future performance of IBC and its subsidiaries, the
occurrence of which involve certain risks and uncertainties
detailed in IBC�s filings with the Securities and Exchange
Commission. Copies of IBC�s SEC filings and Annual Report (as an
exhibit to the 10-K) may be downloaded from the SEC filings site
located at http://www.sec.gov/edgar.shtml. International Bancshares
Corporation (NASDAQ:IBOC) announced that on November 2, 2006, its
board of directors extended the termination date on its stock
repurchase program. The Company is now authorized to conduct stock
repurchases through December 2007, compared to the prior program
termination date of December 2006. Under the program, the Company
is authorized to repurchase up to $200 million of its common stock.
Stock repurchases may be made from time to time, on the open market
or through private transactions. Shares repurchased in this program
will be held in treasury for reissue for various corporate
purposes, including employee stock option plans. As of October 31,
2006, a total of 4,839,040 shares had been repurchased under this
program at a total cost of approximately $178.6 million, adjusted
for stock dividends. The Company currently has invested
approximately $199.6 million in treasury shares, which amount has
been accumulated since the inception of the Company. IBC is a $10.6
billion multi-bank financial holding company headquartered in
Laredo, Texas, with more than 200 facilities and more than 330 ATMs
serving more than 90 communities in Texas and Oklahoma. "Safe
Harbor" statement under the Private Securities Litigation Reform
Act of 1995: The statements contained in this release which are not
historical facts contain forward looking information with respect
to plans, projections or future performance of IBC and its
subsidiaries, the occurrence of which involve certain risks and
uncertainties detailed in IBC's filings with the Securities and
Exchange Commission. Copies of IBC's SEC filings and Annual Report
(as an exhibit to the 10-K) may be downloaded from the SEC filings
site located at http://www.sec.gov/edgar.shtml.
International Bancshares (NASDAQ:IBOC)
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International Bancshares (NASDAQ:IBOC)
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