Flagstar Initiates Dividend and $50 Million Share Repurchase
Flagstar Bancorp, Inc. (FBC)
Last flagstar bancorp, inc. earnings: 4/28 06:30 am
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flagstar.com/about-flagstar.html
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Source: PR Newswire
TROY, Mich., Jan. 30, 2019 /PRNewswire/ -- Flagstar Bancorp, Inc. (NYSE: FBC), the holding company for Flagstar Bank, FSB, today announced its Board of Directors has approved both the initiation of a quarterly dividend and a $50 million share repurchase program. Shareholders of record on March 1, 2019 will receive a quarterly dividend of $0.04 per share on March 15, 2019."The ability to offer a dividend and stock buyback is a really positive sign of how much progress we've made over the last few years," said Alessandro DiNello, president and chief executive officer of Flagstar Bancorp, Inc. "The initiation of a dividend reflects the underlying strength and diversity of our business and confidence in our future earnings prospects, while the share buyback program represents an attractive return on capital with our stock trading at such a low multiple of its tangible book value."We find ourselves with ample liquidity, strong capital and solid asset-generating capabilities to support our
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