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Article: Banco Santander Puerto Rico Announces Stock Repurchase Program Of Up To 3% Of Outstanding Common Stock.
- Article from:
- PR Newswire
- Article date:
- February 4, 2000
CopyrightCOPYRIGHT 2000 PR Newswire Association LLC. 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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SAN JUAN, Puerto Rico, Feb. 4 /PRNewswire/ -- Banco Santander Puerto Rico (NYSE: SBP; Latibex: XSBP) announced last night that its Board of Directors has authorized the repurchase of up to 3% of the Bank's issued and outstanding shares of common stock, subject to approval from federal and local regulators. The purchases will be made from time to time in the open market.
Juan Arenado, President and Chief Executive Officer of Banco Santander Puerto Rico, said, "This measure demonstrates our confidence in the future growth prospects of the Bank and certainty that our stock represents an attractive investment at the current market valuation. Furthermore, it reflects ...