Performance Shipping Approves $4 Million Share Repurchase Program
Performance Shipping (PSHG) has announced that its board of directors has approved a share repurchase plan totaling up to $4 million of its outstanding common shares. The program, which is effective immediately, is authorized to continue through June 30, 2027. The company intends to execute these repurchases via open-market purchases or through Rule 10b5-1 trading plans at management's discretion. Following the announcement, Performance Shipping's stock price saw a significant increase, rising nearly 5% to approximately $2.18 per share.
Topics: capital allocation share repurchase stock price movement
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