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People's United Financial, Inc. Buyback

OLI recorded this information on 11/26/2012

Company: People's United Financial, Inc.
Buyback: PBCT buyback
Share Amount Authorized: 33,600,000.00
Buyback Details: People's United Financial, Inc. announced that its Board of Directors approved a new share repurchase authorization. Earlier this quarter, the Company completed its previous share repurchase authorization, announced in October 2011, by purchasing 18 million shares (at a weighted average price of $12.08 per share) since that time. Under the new authorization, up to 10 percent of the Company's common shares outstanding, or 33.6 million shares, can be repurchased, either directly or through agents, in the open market at prices, times and terms satisfactory to management. The pending share repurchase activity will be financed using cash on hand and the proceeds from one or more debt financings. The timing of share repurchases and debt financings will be subject to market conditions.

People's United Financial is a bank holding company and a financial holding company. The principal business of Co. is to provide, through its subsidiary, People's United Bank, National Association and its subsidiaries, commercial banking, retail banking and wealth management services to individual, corporate and municipal customers. Co.'s reportable segments are: Commercial Banking, which includes commercial real estate lending, middle market and business banking, mortgage warehouse and asset-based lending; and Retail Banking, which includes consumer lending (including residential mortgage and home equity lending) and consumer deposit gathering activities.

Preferred: PBCTP


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Company Name:  People's United Financial Inc
Stock buyback:  PBCT buyback
Website:  www.peoples.com
Sector:  Banking & Savings
 

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March 29, 2024    8:58 AM Eastern
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Hold (2.00 out of 4)
100th percentile
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