Civista Bancshares Share Repurchase Plan Cheers Stockholders
Zacks Investment Research | Dec 18, 2019 08:41PM ET
Recently, Civista Bancshares Inc. (NASDAQ:CIVB) announced a share repurchase plan, with authorization to buy back up to 672,000 shares. The plan will expire on Dec 17, 2020.
Dennis G. Shaffer, Civista Bancshares’s president and CEO said, "We remain committed to our strategy of growing our franchise. This repurchase program will allow us to be opportunistic given current market dynamics and further deliver value to our shareholders."
Prior to this, Civista Bancshares had announced the repurchase of 0.5 million shares last December, with its expiration on Dec 18, 2019. Apart from this, the bank consistently pays quarterly cash dividends. In April, the company had announced a hike of 22.2% to 11 cents per share, which marked its sixth dividend increase since 2011.
Shares of the company have rallied 33.2% in the year-to-date period, outperforming Zacks Investment Research
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