Westwood Holdings Group, Inc. Board of Directors Authorizes $10M Share Repurchase
Westwood Holdings Group, Inc. (NYSE: WHG) today announced that its Board of Directors has authorized a share repurchase of up to $10 million of its outstanding common stock. The repurchases will occur at such times and at such prices as management of the Company determines, and may be effected through transactions in the open market, block trades, or privately negotiated transactions or otherwise and are subject to market conditions, as well as corporate, regulatory and other considerations. This authorization supersedes a share repurchase authorized in August 2011 that was scheduled to expire on August 9, 2012. Under the prior repurchase authorization, the Company repurchased approximately $3.5 million of its outstanding common stock. The new repurchase authorization does not have an expiration date and may be discontinued at any time by the Board of Directors. The Company had approximately 8 million shares of common stock outstanding as of July 19, 2012.
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