Journal of Financial COMMON Economics 9 (1981) 139-183. STOCK REPURCHASES North-Holland Publishing Company AND MARKET SIGNALLING An Empirical Study* Theo VERMAELEN lJ/niversity of British Columbia‚ Vancouver‚ BC‚ Canada V6T 2 W5 Received January 1980‚ final version received January 1981 This paper examines the pricing behavior of securities of firms which repurchase their own shares. The results are consistent with a market in which investors
Premium Stock market Stock Corporate finance
Memo To: Rajat Singh‚ managing director at Hudson Bancorp From: Date: 08/01/2002 Re: Stock Repurchase Program Recommendation The purpose of this memo is to examine whether Deluxe Corporation should increase borrowings to buyback stocks. After considerable analysis of the company’s financial position‚ we recommend that Deluxe Corp. to borrow up to $1.023 billion to buy back 34‚175 shares. In order to achieve this‚ Deluxe will need to lower its bond rating from A rating to BBB ‚ which results
Premium Cash flow Stock market Stock
REPURCHASE OF SHARES In the past two decades‚ major U.S. corporations have increasingly repurchased significant amounts of their own common shares. The reasons for this development and its implications for the theory of share valuation and public policy‚ however‚ have been subject to numerous‚ and often conflicting‚ interpretations. The repurchase of shares is not legal under all codes of law; but in the countries where it is legal‚ it opens up a variety of opportunities for gains for the stockholders
Premium Dividend Stock market Stock
------------------------------------------------- REPURCHASE AGREEMENT (“REPO”) / RESERVE REPO 1. Definition A REPO is a money market transaction wherein securities are sold at a particular price by one party (REPO Seller) to the other (REPO Buyer) with a commitment on the REPO Seller’s part to repurchase the equivalent securities from the REPO Buyer on a certain date and at a certain price‚ both such date and price being fixed as part of the transaction. | A Reserve REPO is a money market
Premium Federal Reserve System
Share repurchases and the protection of shareholders* KATHLEEN VAN DER LINDE** 1 Introduction From a creditor’s perspective there is not much difference between the payment of a dividend in respect of a share and a payment for the acquisition or repurchase of that share. However‚ from the point of view of the shareholder a dividend is a return on capital while a repurchase is a return of capital to the vendor shareholder. Share repurchases change the structure of the company’s share capital
Premium Stock market Stock Shareholder
How might various providers of capital (shareholders and creditors) react if Gainesboro repurchased its shares? Should Gainesboro do so? Repurchasing shares or share buyback: – Open market repurchases (buy over time as other investors) – Tender offer (buy shares at a precise date) – Targeted repurchase (buy from major shareholder There are ways for shareholders to receive cash without being paid dividends. A firm can buy back some of its shares with the advantage being that most investors
Premium Stock market Finance Stock
In the Kitchen In the story In the Kitchen‚ Henry Louis Gates Jr. makes the point that there are some things that you just cannot take away from people‚ such as character traits and people’s ways of life. Those are things that you cannot get rid of no matter how much "hair grease"� you put in your life. When Gates was a young boy‚ he would watch his mother do the people’s hair in their kitchen and would marvel at how the black person’s hair would always go back to the kings no matter how good it
Premium Black people
The article “In the kitchen” written by the renowned author Henry Louis Gates is his own memoir of African-American hairstyle and it goes beyond the subject to bring forward the discussion of assimilation. Gates recalls his childhood memory of the kitchen in family’s Piedmont house. Even though the writer introduces the old-fashioned kitchen equipped with gas stove as the reminder of big mom’s cooking‚ the kitchen turns out to serve as the place where mom usually does her hair. This article also
Premium Hair straightening Afro Hair
Applied for kitchen porter at the jury’s inn via directgov – post closed? Applied for catalogue distributor via directgov – advised I would receive further instruction Emailed application for to capital hair & beauty for cash & carry assistant - Download an application form (PDF)‚ print and Applied for kitchen porter at the jury’s inn via directgov – post closed? Applied for catalogue distributor via directgov – advised I would receive further instruction Emailed application for to capital hair
Premium Psychology Subject Applied linguistics
Kitchen By: Banana Yoshimoto Mikage Satsuki Growing up is tough; especially when you are alone and young. It forces you to fend for yourself against the world. Instead of playing with your friends‚ you spend your time figuring out where your next meal is coming from. Which is a sad and scary truth; few stop to think of these poor souls that get such an unfortunate fate. In Banana Yoshimoto’s Kitchen‚ the character Mikage undergoes many of changes‚ but one thing throughout this book that does
Premium Banana Yoshimoto Family