US REX American Resources initiates share buy-back
(ADPnews) - Oct 14, 2010 - US ethanol producer REX American Resources (NYSE:REX) said on Tuesday that after a board approval, it will buy back 573,000 of its 9.5 million outstanding shares of common stock.
The firm did not disclose at what price it expects to buy back the shares. During the quarter ending on October 31, 2010, the company paid an average of USD 14.87 (EUR 10.67) per share to repurchase 220,000 shares. Since December last year, it has bought back 465,000 shares.
The repurchases will be made from time to time on the open market or through private transactions at market prices.
REX has interests in seven ethanol facilities producing some 632 million gallons per year in total.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.