On December 8 Magyar Bancorp Announced The Completion Of The Stock Repurchase Program Authorized July 21, 2022, Repurchasing 354,891 Shares At A Price Of $12.90, Authorized Additional Buyback To Repurchase Up To 5% Of Its Outstanding Shares Or Up 337,146 Shares

Author: Benzinga Newsdesk | December 08, 2022 05:05pm

On December 8, 2022, Magyar Bancorp, Inc. (the “Company”) announced the completion of the stock repurchase program authorized July 21, 2022, repurchasing 354,891 shares at an average price of $12.90, and that its Board of Directors authorized an additional stock repurchase plan pursuant to which the Company intends to repurchase up to 5% of its outstanding shares, or up to 337,146 shares. The timing of the repurchases will depend on certain factors, including but not limited to, market conditions and prices, the Company’s liquidity requirements and alternative uses of capital. A copy of the press release announcing the share repurchase plan is included herein as Exhibit 99.1 and is incorporated by reference.

Posted In: MGYR