Cowen Board of Directors Approves Increase in Share Repurchase Program to $25 million

Rhea-AI Summary

Cowen has approved an increase in its share repurchase program to a total of $25 million. This decision reflects the company's strategy to enhance shareholder value through the buyback of shares. The enhanced program is expected to support COWN's stock price and confidence in the company's financial health.

Positive

• Increase in share repurchase program to $25 million supports shareholder value.
• Repurchase program indicates confidence in the company's financial performance.

Negative

• None.

NEW YORK, March 18, 2021 (GLOBE NEWSWIRE) -- Cowen Inc. (NASDAQ:COWN) (“Cowen” or the “Company) today announced that its Board of Directors has approved an increase in the Company’s existing share repurchase program (the “Share Repurchase Program”). With this increase, the total amount now available for repurchase under the current plan is $25 million.

About Cowen Inc.

Cowen Inc. (“Cowen” or the “Company”) is a diversified financial services firm offering investment banking services, equity and credit research, sales and trading, prime brokerage, global clearing, commission management services and actively managed alternative investment products. Cowen focuses on delivering value-added capabilities to our clients in order to help them outperform. Founded in 1918, the Company is headquartered in New York and has offices worldwide. Learn more at Cowen.com

For further information, contact:

Cowen Inc.
J.T. Farley, Investor Relations
(646) 562-1056
james.farley@cowen.com

FAQ

What is the total amount now available for repurchase under Cowen's share repurchase program?

The total amount available for repurchase is $25 million.

What is the purpose of Cowen's share repurchase program?

The purpose is to enhance shareholder value by buying back shares.

How might the share repurchase program impact Cowen's stock price?

The repurchase program is expected to support and potentially increase Cowen's stock price.