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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