Insurance Underwriter - In the Boardroom
Employers Holdings' board approves new share repurchase program
November 04, 2009 7:09 PM ET
By Jasir Jawaid
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Employers Holdings Inc. President and CEO Douglas Dirks said in a Nov. 4 news release that the company's board approved a new $50 million share repurchase program, effective Jan. 1, 2010, through Dec. 31, 2010. Through the 2008 stock repurchase program, the company repurchased 1,547,106 common shares in the third quarter at an average price of $14.42 per share. In the first nine months of 2009, the company repurchased 4,616,401 common shares at an average cost of $11.79 per share. As of Sept. 30, the company had repurchased 9,314,468 of its common shares at an average price of $15.41 per share. For the third quarter, the company reported net income of $30.6 million, or 67 cents per share, compared to $33.1 million, or 67 cents per share, in the year-ago period. |
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