Sun Communities Inc announces that its board of directors has authorized a new stock repurchase program
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According to documents submitted to the U.S. Securities and Exchange Commission, the company has been authorized to buy back up to $1 billion worth of common shares on the open market. The authorization remains valid until May 27, 2027. The company stated that the timing and actual amount of the buyback will depend on various factors, including market conditions, share price, regulatory requirements, and the company’s capital position and liquidity needs. Management emphasized that the plan aims to create long-term value for shareholders and reflects the board of directors’ confidence in the company’s future prospects and financial strength.
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