HANOVER, N.H.--(BUSINESS WIRE)--Ledyard Financial Group, Inc. (Ticker Symbol: LFGP) today announced that its Board of Directors on July 26, 2019, authorized a stock repurchase plan pursuant to which Ledyard Financial Group may repurchase up to 120,000 shares of its common stock. Ledyard’s Board of Directors and management team are committed to maximizing shareholder value and feel the recent increase in the dividend along with the stock repurchase plan demonstrate their commitment to this goal.
Any repurchases will be made in the open market at prevailing market prices or in privately negotiated transactions in accordance with all applicable securities laws and regulations and are intended to make appropriate adjustments to the Company’s capital structure, meeting the share requirements of stock option plans and for general corporate purposes. Such repurchases will be made from time to time, subject to market conditions, at the discretion of Ledyard Financial Group management.
Ledyard Financial Group, Inc., headquartered in Hanover, New Hampshire, is the holding company for Ledyard National Bank. Ledyard National Bank, founded in 1991, is a full service community bank offering a broad range of banking, investment, tax, and wealth management services.
Ledyard Financial Group, Inc. shares can be bought and sold through the NASD sanctioned “OTC Markets” under the trading symbol LFGP. Shares may be traded through an individual’s broker. For more information, please refer to the “Investor Relations” section of the bank’s website at www.ledyardbank.com or contact the bank’s Chief Financial Officer, Gregory D. Steverson.
Forward-Looking Statements: Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, loan production, competitive pressure in the banking industry, balance sheet management, net interest margin variations, the effect of changes in equity prices on assets under management, the ability to control costs and expenses, changes in the interest rate environment, financial policies of the United States government, and general economic conditions. The Company disclaims any obligation to update any such factors.