JD Bancshares, Inc. Announces Stock Repurchase Plan

Rhea-AI Summary

JD Bancshares (OTCQX:JDVB) announced a $2.5 million share repurchase plan effective until December 31, 2022. This initiative, according to President and CEO Bruce W. Elder, reflects the company's confidence in its continued performance and aims to enhance long-term shareholder value. The repurchase strategy will utilize various methods compliant with SEC regulations and will be influenced by the company's financial position, market conditions, and other strategic factors. The plan can be suspended or stopped at management's discretion.

Positive

• Authorization of a $2.5 million share repurchase plan aimed at increasing shareholder value.
• Reflects management's confidence in the company's future performance.

Negative

• None.

JENNINGS, LA / ACCESSWIRE / January 31, 2022 / JD Bancshares, Inc. (OTCQX:JDVB) (the "Company") today announced that its Board of Directors has authorized a share repurchase plan under which the Company may repurchase up to $2.5 million of its outstanding shares of common stock through December 31, 2022.

"The announced share repurchase plan is part of a broader capital allocation strategy and demonstrates our confidence in the Company's continued performance. We believe this is an attractive use of capital and takes steps toward creating long-term value for our investors" said Bruce W. Elder, President and CEO.

Under the repurchase program, repurchases can be made from time to time using a variety of methods, including open market purchases, all in compliance with the rules of the United States Securities and Exchange Commission and other applicable legal requirements. The Company's decision and timing to repurchase its shares will depend on a variety of factors, including the ongoing assessment of the Company's capital position and needs, the market price of the Company's common stock, general market conditions and other strategic considerations, as determined by management. The repurchase program may be suspended or discontinued at any time.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plans," "believes," and similar expressions are used to identify these forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the Company's intent to repurchase, from time to time, its common stock. These statements are based on management's current expectations and beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements in this press release due to any number of factors, including those discussed in the release, as well as the risks, uncertainties and other factors to which the Company may be exposed. The "forward-looking statements" included in this press release are made only as of the date of this release. The Company does not have, and does not undertake, any obligation to publicly update any "forward-looking statements" to reflect subsequent events or circumstances, and the Company expressly disclaims any such obligation, except as required by law or regulation.

JD Bancshares, Inc. (OTCQX:JDVB) trades on the OTCQX Best Market. Companies meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, and have a professional third-party sponsor introduction. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on otcmarkets.com.

For more information contact:

JD Bancshares, Inc.
Bruce Elder (CEO) 337-246-5399
Paul Brummett (CFO) 337-246-5395

SOURCE: JD Bancshares, Inc.

View source version on accesswire.com:
https://www.accesswire.com/686424/JD-Bancshares-Inc-Announces-Stock-Repurchase-Plan

FAQ

What is the purpose of JD Bancshares' $2.5 million share repurchase plan?

The share repurchase plan aims to enhance long-term shareholder value and demonstrates management's confidence in the company's performance.

When is the share repurchase plan for JD Bancshares expected to be completed?

The share repurchase plan is set to be executed through December 31, 2022.

How will JD Bancshares implement its share repurchase plan?

Repurchases will be made via various methods in compliance with SEC regulations, depending on the company's capital position and market conditions.

What could impact the timing of share repurchases by JD Bancshares?

The timing of repurchases will depend on the company's financial health, stock market price, and overall market conditions.