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Article: Pointe Financial Corp. Reports Stock Repurchase and Dividend Payment.
- Article from:
- Business Wire
- Article date:
- May 5, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BOCA RATON, Fla.--(BUSINESS WIRE)--May 5, 1999--
The board of directors of Pointe Financial Corp. (Nasdaq:PNTE) has authorized a program to repurchase shares of its Common Stock and has allocated $2 million to the program.
Management was granted authority to make purchases in the open market as conditions warrant.
R. Carl Palmer, Jr., president and chief executive officer of the company commented: "We believe that the company's stock, at its current valuation, represents an attractive investment opportunity at this time. The buy-back program reflects the company's confidence in its business. The company believes that its strong financial ...