Boston Omaha Corporation (NYSE: BOC) has announced the approval of a $30 million class A common stock repurchase program, set to be in effect until December 31, 2026. The program allows the company to repurchase its class A common stock through various means, including open market purchases and privately-negotiated transactions. Additionally, the Board has been authorized to establish "rule 10b5-1 trading plans" for these share repurchases, providing flexibility in executing the program.
The specifics of the share repurchase program, such as the timing, number, and value of shares to be repurchased, will depend on factors including SEC regulations, market conditions, and alternative investment opportunities. Importantly, the program does not bind the company to acquire a specific number of shares within any period, and it may be adjusted or terminated at any time.
Boston Omaha Corporation, a public holding company, holds majority stakes in four businesses involved in outdoor advertising, broadband telecommunications services, surety insurance, and asset management. Following these announcements, the company's shares moved 11.38%, and are now trading at a price of $12.82. For more information, read the company's full 8-K submission here.
