- Oconee Federal Financial Corp. (OFED, Financial) announces a stock repurchase program for up to 50,000 shares.
- The repurchase plan represents approximately 0.86% of the company’s outstanding shares.
- The shares will be repurchased through various methods including open-market transactions.
Oconee Federal Financial Corp. (OTCQX: OFED), the parent company of Oconee Federal Savings and Loan Association, has announced an authorized stock repurchase program. The company plans to buy back up to 50,000 shares of its outstanding common stock. This amount constitutes approximately 0.86% of the company’s total issued shares.
The timing and execution of the stock repurchase will depend on several factors, including market conditions, current stock prices, available funding, and other potential uses of capital. The company intends to carry out the buyback through open-market purchases, block trades, negotiated private transactions, or via a pre-established trading plan in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934.
Any shares repurchased under this program will be held as treasury shares by Oconee Federal Financial Corp. (OFED, Financial). Such actions are part of the company’s strategic plans to optimize its capital structure and potentially enhance shareholder value.
Oconee Federal Financial Corp. is a community-oriented financial institution headquartered in Seneca, South Carolina, operating eight full-service branch locations across South Carolina and Georgia. For further financial details and updates, stakeholders are encouraged to visit the investor information page on their official website at www.oconeefederal.com.
