Golden Ocean Adopts $100M Stock Buyback Plan

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  • 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.
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