Golden Ocean Adopts $100M Stock Buyback Plan

by Shivani Kumaresan, Benzinga Staff Writer

October 5, 2022 6:32 AM | 1 min read |

Golden Ocean Group Ltd GOGL Board of Directors has authorized a share buy-back program of $100 million.
Under the approval, the company can buy up to an aggregate of 10 million of its shares for a period of up to 12 months, commencing October 4, 2022.
The maximum amount to be paid per share is $10, or equivalent in NOK for shares acquired at Oslo Stock Exchange.
The share buy-backs will be carried out through repurchases in the market, both on the Oslo Stock Exchange and NASDAQ.
Golden held cash and equivalents of $168.3 million as of June 30, 2022.
Price Action: GOGL shares are trading higher by 3.06% at $8.41 in premarket on the last check Wednesday.