Rochester,NY 8/27/2009 12:19:01 AM
First Mercury Financial Corporation.FMR-Announces Dividend and Approves Share Repurchase Program
First Mercury Financial Corporation
First Mercury Financial Corporation declared today that on August 20, 2009 its Board of Directors declared a quarterly cash dividend of $0.025 per share, to be paid September 30, 2009 to shareholders of record at the close of business on September 15, 2009.
In addition, the Board of Directors approved a Share Repurchase Program and authorized the repurchase of up to 1.0 million shares of outstanding common stock through August 20, 2010. The authorization indicates approximately 6 percent of the Company's outstanding shares at August 7, 2009. The Company's prior Share Repurchase Program, declared in August 2008, originally authorized the repurchase of up to 1.5 million shares of the Company's outstanding common stock. As of August 7, 2009, the Company had repurchased 100 percent, or 1.5 million, of the total shares authorized for repurchase for approximately $19.0 million.
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