Ready Capital Authorizes $150M Stock Repurchase Program

By Tamara Parker • Friday, January 17 10:59 • Permanent Link

Ready Capital Corporation has announced a new stock repurchase program, authorizing the repurchase of up to $150.0 million of the company’s common stock. This decision was approved by the board of directors and allows for repurchases at management’s discretion from time to time on the open market, in privately negotiated transactions, or otherwise, subject to compliance with all SEC rules and other legal requirements. The company may also make repurchases under one or more rule 10b5-1 and rule 10b-18 plans. The timing and amount of any repurchase transactions will be determined by the company’s management based on its evaluation of market conditions, share price, legal requirements, and other factors. As a result of these announcements, the company's shares have moved 3.2% on the market, and are now trading at a price of $6.96. For the full picture, make sure to review Ready Capital's 8-K report.

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