The Commerce Group, Inc. (CGI) Directors Approve Regular Quarterly Dividend and Increase Stock Buyback Authorization.WEBSTER, Mass. -- The Board of Directors of The Commerce Group, Inc. (NYSE NYSE See: New York Stock Exchange :CGI CGI in full Common Gateway Interface. Specification by which a Web server passes data between itself and an application program. Typically, a Web user will make a request of the Web server, which in turn passes the request to a CGI application program. ) today approved a regular quarterly cash dividend of $0.25 per share on the issued and outstanding common stock of the Company, payable December 8, 2006 to shareholders of record at the close of business on November 27, 2006. In addition, the Board of Directors voted to increase the authorization to 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. stock to 5.0 million shares. The Company's previously available 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. authorization was approximately 1.5 million shares. To date during the fourth quarter, the Company acquired 243,000 shares at an average cost of $29.73. |
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