By Kailyn Rhone
The Bank of N.T. Butterfield & Son said its board adopted a new $100 million share-buyback program.
The Bermuda banking and wealth management company said Monday it is authorized to purchase up to 2.7 million of its ordinary shares through Dec. 31, 2025.
The program will come into effect on Jan. 1, 2025 with the termination of the current 2.1 million share repurchase program that was announced on July 22.
The volume and timing of distributions under the program will be determined at the company's discretion. The share repurchases may be made from time to time on the open market or in private transactions.
Write to Kailyn Rhone at kailyn.rhone@wsj.com
(END) Dow Jones Newswires
December 09, 2024 17:14 ET (22:14 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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