VERO BEACH, Fla., Dec. 17, 2012 (GLOBE NEWSWIRE) -- ARMOUR Residential REIT, Inc. (NYSE:ARR and ARR PrA) (NYSE MKT: ARR.WS) ("ARMOUR" or the "Company") announced today that its Board of Directors has authorized the Company to repurchase up to $100 million of its outstanding shares of common stock. Shares may be purchased in the open market, including block trades, through privately negotiated transactions, or pursuant to a trading plan separately adopted in the future. The timing, manner, price and amount of any repurchases will be at the discretion of the Company, subject to the requirements of the Securities Exchange Act of 1934 and related rules. The program does not oblige the Company to repurchase any shares and it may be modified, suspended or terminated at any time and for any reason. The Company does not intend to purchase shares from its directors, officers or other affiliates.
ARMOUR Residential REIT, Inc. Announces Stock Repurchase Authorization
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.