Central Bancorp, Inc. Announces Completion of Fourth Stock Repurchase Program.Business Editors SOMERVILLE, Mass.--(BUSINESS WIRE)--March 26, 2002 Central Bancorp, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market: CEBK) today announced that it had completed its fourth common stock buyback Stock buyback A corporation's purchase of its own outstanding stock, usually in order to raise the company's earnings per share. stock buyback See buyback. program. The Board of Directors had authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the repurchase of up to 5% of the Company's outstanding stock pursuant to the buyback program in December 2000. A total of 84,458 shares were purchased under the fourth buyback program at an average cost of $23.78 per share. The total number of shares purchased since the first repurchase program was adopted in April 1999 are 365,294 at an average cost of $19.56 per share, representing 18.54% of the total common stock issued and outstanding prior to the adoption of the first buyback program. Central Bancorp, Inc. is the holding company for Central Bank, whose legal name is Central Co-operative Bank The Co-operative Bank is a co-operative bank trading in the United Kingdom with headquarters in Manchester, UK. It is an ethical bank, and refuses to invest in companies involved in the arms trade, genetic engineering, animal testing and use of sweated labour as stated in its , a Massachusetts chartered co-operative bank operating eight full-service banking offices in suburban Boston. |
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