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SMALL BUSINESS
United Financial to repurchase more shares
AP
WEST SPRINGFIELD, Mass. -United Financial Bancorp Inc., the holding company for United Bank, said Friday it plans to buy back up to 798,055, or 5 percent, of its outstanding shares under a new stock repurchase plan.
The company said the share buyback program — its fifth since the company went public — will follow its current stock repurchase plan, which was approved Feb. 19 and began Feb. 25.
United Financial has repurchased of a total of 632,800 shares at an average price of $12.89 per share under its current program. The company currently has 208,338 shares remaining under its existing program.
Shares of the company gained 23 cents, or nearly 2 percent, to $12.38 in afternoon trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-10-16 16:49:26
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