Ambac Financial Group, Inc. Announces Increased Share Buyback Authorization and Declares Quarterly Dividend
03 Mai 2005 - 11:30PM
PR Newswire (US)
Ambac Financial Group, Inc. Announces Increased Share Buyback
Authorization and Declares Quarterly Dividend NEW YORK, May 3
/PRNewswire-FirstCall/ -- Ambac Financial Group, Inc. (NYSE:ABK)
today announced that its Board of Directors increased the number of
shares available under the Company's Share Repurchase Program by
six million shares. Ambac has recently repurchased 1.3 million
shares in the open market for approximately $86.7 million. After
today's additional authorization, coupled with the recent share
purchases, Ambac has approximately 6.3 million shares remaining
under its Share Repurchase Program. Shares will be repurchased in
the open market or in private transactions at times and prices
considered appropriate by Ambac. Ambac also announced today that
its Board of Directors declared a regular quarterly cash dividend
of $0.125 per share of common stock. The dividend is payable on
June 1, 2005 to stockholders of record on May 16, 2005. Ambac
Financial Group, Inc., headquartered in New York City, is a holding
company whose affiliates provide financial guarantees and financial
services to clients in both the public and private sectors around
the world. Ambac's principal operating subsidiary, Ambac Assurance
Corporation, a leading guarantor of public finance and structured
finance obligations, has earned triple-A ratings, the highest
ratings available from Moody's Investors Service, Inc., Standard
& Poor's Ratings Services, Fitch, Inc. and Rating and
Investment Information, Inc. Ambac Financial Group, Inc. common
stock is listed on the New York Stock Exchange (ticker symbol ABK).
DATASOURCE: Ambac Financial Group, Inc. CONTACT: Investor and Media
Contact - Peter R. Poillon of Ambac Financial Group, Inc.,
+1-212-208-3333, Web site: http://www.ambac.com/
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