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Updated: 10:24 a.m. Wednesday, Sept. 28, 2011 | Posted: 10:23 a.m. Wednesday, Sept. 28, 2011
Staff Report
The board of Rex American Resources Corp. has authorized the repurchase of up to an additional 500,000 shares of its common stock, the company said Wednesday.
The Harrison Twp.-based company has finished a previous stock repurchase program of 500,000 shares, executives said.
In the current quarter, the company has bought back 287,854 of its shares for an average price of $16.35 per share, executives said.
The company will buy back shares through open-market and private purchases. Repurchased shares will be held in Rex’s treasury for future use, company executives said.
Rex owns stakes in several alternative-energy ventures and also owns and operates a portfolio of retail properties.
Shares of Rex (NYSE: REX) were trading at $16.63, down 1 cent from the previous close. The stock has a 52-week range of $13.36 and $18.00.
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