Javelin boosts buyback; makes a board change

|By:, SA News Editor

The stock repurchase authorization is raised to 3M shares from 2M previously. With the boost, the company currently has permission to buy back another 1.49M shares.

Thomas Guba - on the board since 2012 - is appointed lead independent director.

Javelin is externally managed by the same team which externally manages Armour Residential (ARR) and Armour made nearly identical moves today, though Javelin's buyback program - under pressure from an activist investor - has previously been more aggressive than Armour's.

JMI no trades premarket