Harbor Custom Development Approves New Stock Repurchase Program | Financial Buzz

Harbor Custom Development Approves New Stock Repurchase Program

Harbor Custom Development, Inc. (NASDAQ: HCDI) board of directors reported on November 3rd, 2021, a new stock repurchase program that authorizes the repurchase of up to USD 5 Million worth of shares of common stock beginning November 22nd, 2021 and will continue through May 22nd, 2022.  The repurchase program represents 17% of the outstanding shares of the Company’s common stock which is valued at the closing price on November 3rd, 2021.  “The Board’s decision to authorize a stock repurchase plan demonstrates their confidence in Harbor’s business and growth opportunities we see over the long term,” said Harbor President and CEO, Sterling Griffin.

The company has authorized management to enter into the trading plan with Piper Sandler in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. 

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