Investors Bancorp, Inc. has authorised the repurchase of up to 10 percent of its publicly-held outstanding shares of common stock, or 5,317,590 shares, commencing 12 October 2006.
“We are pleased to announce the first stock repurchase programme in the Company’s history and we are committed to capital management strategies that will enhance stockholder value,” says Robert M. Cashill, the President and CEO of Investors Bancorp.
Investors Bancorp will repurchase the shares from time to time for cash in open market transactions or in privately negotiated transactions in accordance with applicable federal securities laws.