Regions Financial authorizes a $350M equity repurchase program

theflyonthewall.com

The Regions Financial Board of Directors has authorized an equity repurchase program for up to $350M of the company's common stock. This action is a component of the company's capital plan that was not objected to by the Federal Reserve as part of its 2013 Comprehensive Capital Analysis and Review, or CCAR. The authority granted under the repurchase program expires on March 31, 2014. The timing and exact amount of common stock repurchases will depend on various factors, including market conditions, the company's capital position and internal capital generation. The repurchase program does not include specific price targets, may be executed through open market purchases, accelerated share repurchase transactions or privately negotiated transactions, including utilizing Rule 10b5-1 programs, and may be suspended at any time.

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