Dominion Homes, Inc. Announces Share Repurchase Program.Business Editors & Real Estate Writers DUBLIN, Ohio--(BUSINESS WIRE)--Feb. 10, 2003 Dominion dominion, power to rule, or that which is subject to rule. Before 1949 the term was used officially to describe the self-governing countries of the Commonwealth of Nations—e.g., Canada, Australia, or India. Homes, Inc. (Nasdaq:DHOM) announced today that its Board of Directors has 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 re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. of up to 250,000 of the Company's Common Shares through December 31, 2003. The repurchases may be made from time to time on the open market or in privately-negotiated transactions. The Company expects to fund the purchases through internally generated cash and the Company's existing credit facility. The Company plans to hold the repurchased Common Shares as treasury shares. There were 8,202,691 Common Shares outstanding on February 10, 2003. Douglas G. Borror, Chairman and Chief Executive Officer, stated: "The Company's 2002 record operating results generated funds that our Board of Directors believes can be put to good use through the purchase of our Common Shares. The share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. program underscores the confidence of our Board and management in the Company's long term prospects. We believe that our Common Shares represent an attractive investment opportunity." Dominion Homes is a leading builder of high quality single-family homes in Central Ohio and Louisville, Kentucky  “Louisville” redirects here. For other uses, see Louisville (disambiguation). . It offers three distinct series of homes, which are differentiated by size, price, standard features and available options. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion