The Bank of N.T. Butterfield & Son Limited ("Butterfield" or
the "Bank") (BSX: NTB.BH; NYSE: NTB) today announced that its Board
of Directors has approved a $100 million ordinary share repurchase
program (“the Share Repurchase Program”) pursuant to which the Bank
is authorized to purchase up to 2.7 million of its ordinary shares
through December 31, 2025.
Michael Collins, Chairman and Chief Executive Officer said: “I
am pleased to announce a new share repurchase program for 2025. Our
capital management priorities continue to focus on supporting a
quarterly cash dividend, funding organic growth, and positioning
the Bank for potential acquisitions. Subject to market conditions,
our new share repurchase authorization provides us with an
additional method to effectively deploy capital in 2025.”
The timing and amount of any share repurchases will be
determined by Bank management based on its evaluation of market
conditions and other factors that include, but are not limited to,
Butterfield’s share price and the availability of alternative
capital investments. Repurchases under the new Share Repurchase
Program may be made in the open market or through privately
negotiated transactions, including under US Securities &
Exchange Commission Rule 10b5-1, and will be made in accordance
with applicable laws and regulations.
The new Share Repurchase Program will come into effect on
January 1, 2025 with the termination of the current 2.1 million
share repurchase program that was announced on July 22, 2024.
Forward-Looking Statements:
Certain of the statements made in this release are
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements with respect to our beliefs, plans,
objectives, goals, expectations, anticipations, assumptions
estimates, intentions, and future performance, including, without
limitation, our intention to make share repurchases, our dividend
payout target, our fee/income ratio, our OCI burndown, and
affordability for borrowing customers and business activity levels,
and involve known and unknown risks, uncertainties and other
factors, which may be beyond our control, and which may cause the
actual results, performance, capital, ownership or achievements of
Butterfield to be materially different from future results,
performance or achievements expressed or implied by such
forward-looking statements due to a variety of factors, including
worldwide economic conditions (including economic growth and
general business conditions) and fluctuations of interest rates,
inflation, a decline in Bermuda’s sovereign credit rating, any
sudden liquidity crisis, the successful completion and integration
of acquisitions (including our integration of the trust assets
acquired from Credit Suisse) or the realization of the anticipated
benefits of such acquisitions in the expected time-frames or at
all, success in business retention (including the retention of
relationships associated with our Credit Suisse acquisition) and
obtaining new business, potential impacts of climate change, the
success of our updated systems and platforms and other factors.
Forward-looking statements can be identified by words such as
"anticipate," "assume," "believe," "estimate," "expect,"
"indicate," "intend," "may," "plan," "point to," "predict,"
"project," "seek," "target," "potential," "will," "would," "could,"
"should," "continue," "contemplate" and other similar expressions,
although not all forward-looking statements contain these
identifying words. All statements other than statements of
historical fact are statements that could be forward-looking
statements.
All forward-looking statements in this disclosure are expressly
qualified in their entirety by this cautionary notice, including,
without limitation, those risks and uncertainties described in our
SEC reports and filings, including under the caption "Risk Factors"
in our most recent Form 20-F. Such reports are available upon
request from Butterfield, or from the Securities and Exchange
Commission ("SEC"), including through the SEC’s website at
https://www.sec.gov. Any forward-looking statements made by
Butterfield are current views as at the date they are made. Except
as otherwise required by law, Butterfield assumes no obligation and
does not undertake to review, update, revise or correct any of the
forward-looking statements included in this disclosure, whether as
a result of new information, future events or other developments.
You are cautioned not to place undue reliance on the
forward-looking statements made by Butterfield in this disclosure.
Comparisons of results for current and any prior periods are not
intended to express any future trends or indications of future
performance, and should only be viewed as historical data.
About Butterfield:
Butterfield is a full-service bank and wealth manager
headquartered in Hamilton, Bermuda, providing services to clients
from Bermuda, the Cayman Islands, Guernsey and Jersey, where our
principal banking operations are located, and The Bahamas,
Switzerland, Singapore and the United Kingdom, where we offer
specialized financial services. Banking services comprise deposit,
cash management and lending solutions for individual, business and
institutional clients. Wealth management services are composed of
trust, private banking, asset management and custody. In Bermuda,
the Cayman Islands and Guernsey, we offer both banking and wealth
management. In The Bahamas, Singapore and Switzerland, we offer
select wealth management services. In the UK, we offer residential
property lending. In Jersey, we offer select banking and wealth
management services. Butterfield is publicly traded on the New York
Stock Exchange (symbol: NTB) and the Bermuda Stock Exchange
(symbol: NTB.BH). Further details on the Butterfield Group can be
obtained from our website at: www.butterfieldgroup.com.
BF-All
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241209873218/en/
Investor Relations Contact: Noah Fields Investor
Relations The Bank of N.T. Butterfield & Son Limited Phone :
(441) 299 3816 E-mail : noah.fields@butterfieldgroup.com
Media Relations Contact: Nicky Stevens Group Strategic
Marketing & Communications The Bank of N.T. Butterfield &
Son Limited Phone: (441) 299 1624 E-mail:
nicky.stevens@butterfieldgroup.com
Bank of NT Butterfield a... (NYSE:NTB)
과거 데이터 주식 차트
부터 1월(1) 2025 으로 2월(2) 2025
Bank of NT Butterfield a... (NYSE:NTB)
과거 데이터 주식 차트
부터 2월(2) 2024 으로 2월(2) 2025
