Sunday, September 04, 2005by Mike Adams, the Health Ranger Editor of NaturalNews.com (See all articles...) Tags: charter schools, health news, Natural News |
Also, the board authorized the repurchase of up to an additional 100 million shares of Wachovia’s common stock. The authorization is in addition to previous authorizations under which there were approximately 50 million shares remaining as of June 30, 2005.
"Today's announcement reflects our board's confidence in Wachovia's performance and prospects for consistently growing earnings while maintaining a strong capital position," said Ken Thompson, chairman and chief executive officer of Wachovia. "This increase is consistent with our stated guideline for dividend payout. We are pleased to ensure that our shareholders benefit from the company's success."
The stock repurchases may be private or open-market purchases, including block transactions, accelerated or delayed block transactions, forward transactions, collar transactions and similar transactions. The amount and timing of the stock repurchases would be based on various factors, such as management’s assessment of Wachovia’s capital structure and liquidity, the market price of Wachovia common stock compared to management’s assessment of the stock’s underlying value as well as applicable regulatory, legal and accounting factors.
Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with retail operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $511.8 billion, market capitalization of $78.2 billion and stockholders’ equity of $47.9 billion at June 30, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 13 million household and business relationships primarily through 3,126 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 699 offices in 49 states and five Latin American countries. The Corporate and Investment Bank serves clients primarily in 10 key industry sectors nationwide. Global services are offered through 33 international offices. Online banking and brokerage products and services also are available through Wachovia.com.
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About the author:Mike Adams (aka the "Health Ranger") is a best selling author (#1 best selling science book on Amazon.com) and a globally recognized scientific researcher in clean foods. He serves as the founding editor of NaturalNews.com and the lab science director of an internationally accredited (ISO 17025) analytical laboratory known as CWC Labs. There, he was awarded a Certificate of Excellence for achieving extremely high accuracy in the analysis of toxic elements in unknown water samples using ICP-MS instrumentation. Adams is also highly proficient in running liquid chromatography, ion chromatography and mass spectrometry time-of-flight analytical instrumentation.
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