Eillington Financial to repurchase up to $50M of its common stock
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- Ellington Financial's (NYSE:EFC) board has authorized the buyback of up to $50M of the company's common stock, it said Tuesday. That equivalent to ~4.4M shares as of the stock's closing price.
- The authorization extends its ability to buy back common stock beyond the 1.55M shares previously authorized in 2018, nearly all of which have been repurchased through Tuesday.
- EFC ticked up 0.1% to $11.36 a share in postmarket trading, adding to the 2.8% intraday climb.
- Earlier this month, (March 8) Ellington Financial declared a monthly dividend of $0.15 per share.