Umpqua Holdings to buy back up to 15M shares
Friday, September 30, 2011
PORTLAND — Umpqua Holdings Corp.’s board is increasing the amount of common stock available for buybacks to 15 million shares.
The parent company of Umpqua Bank and Umpqua Investments said in a recent regulatory filing that it had 1.4 million shares available for repurchase under its previous buyback. Umpqua Holdings has 114.5 million shares outstanding, according to FactSet. About two weeks ago the company’s board approved raising its quarterly dividend by 40 percent to 7 cents per share.
Umpqua’s stock gained 79 cents, to close at $8.90 trading Thursday. It closed at $8.11 on Wednesday, near its 52-week low of $8.10.