Armour boosts buyback; makes a board change

|By:, SA News Editor

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.

Shares +1.4% premarket

Javelin Mortgage announced nearly identical moves today as well.