Impac Board OKs Stock Repurchase
Impac Mortgage Holdings Inc. said its board has authorized the company to repurchase an additional $1 million worth of shares.
Impac, a Newport Beach real estate investment trust, said it has repurchased 853,350 shares, about 3% of the common stock, since Nov. 2 at an average price of $2.29 a share.
The stock closed unchanged at $1.95 a share Wednesday on the American Stock Exchange. The shares have lost more than half of their value this year.
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