Palmer Square (PSBD) Announces Expansion of Share Repurchase Program
Palmer Square Capital BDC (PSBD) has expanded its share repurchase program. The company cited increased confidence and said the move is intended to enhance shareholder value.
Palmer Square Capital BDC (PSBD) announced that it has expanded its share repurchase program. The company explained that the decision was driven by increased confidence. It said the expanded repurchases would enhance shareholder value.
The company disclosed the expansion of its repurchase program in a related filing. The filing included the purpose of the repurchases and the company's intention to carry them out. The company said it would make repurchases sequentially in the market as needed.
The company took steps to inform investors and shareholders of the decision. It disclosed that it had conducted an internal review related to capital management. The company said it would carry out repurchases in accordance with applicable rules and procedures.
This announcement will be recorded as a change in the company’s capital policy. The company added that it may make an additional disclosure related to expanding its purchases. It said it would disclose execution details in its regular reports.
The notice to investors included explanations of the purpose of the purchases and how they would be executed. The company disclosed that it made the decision after considering the impact of the purchases on per-share value. It said it would disclose the relevant procedures and timing.
Sources: Yahoo Finance
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