HCI Group launches $40M buyback plan

|About: HCI Group, Inc. (HCI)|By:, SA News Editor

CEO Paresh Patel: "This repurchase, coupled with our ongoing dividends, represents our commitment to create long term value for HCI's shareholders."

At yesterday's close of $37.21, the plan allows for the buyback of about 1.1M shares over the next 12 months, roughly 10% of the float.