Seeking Alpha

Armour boosts buyback; makes a board change

Armour Residential (ARR) increases the size of its buyback authorization to up to 50M shares. It was previously $100M, or about 23M shares at the current price.

Thomas Guba - who has served on the board since 2009 - is appointed lead independent director. Among other responsibilities, Guba will coordinated the activities of the other independent directors, including having the authority to call executive sessions of the independent directors.

Press release

Shares +1.4% premarket

Javelin Mortgage announced nearly identical moves today as well.

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