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Published in House and Home on Tuesday, October 12th 2010 at 4:15 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
DAYTON, Ohio--([ BUSINESS WIRE ])--REX American Resources Corporation (NYSE: REX) today announced today that its Board of Directors has authorized the repurchase of up to an additional 500,000 shares of its common stock. To date in the third quarter ending October 31, 2010, REX has repurchased 220,000 shares (at an average price of approximately $14.87 per share). Reflecting all purchases to-date, REX presently has approximately 9,491,000 shares of common stock outstanding.
Since its December 2009 authorization, REX has repurchased 465,000 shares of common stock under the December and February 2009 authorizations. Taking into account todaya™s authorization and the balance of a 500,000 share repurchase authorization in December 2009, REX is presently authorized to repurchase up to 573,000 shares of its common stock.
Share repurchases will be made from time to time in open market or private transactions at prevailing market prices, and all shares purchased will be held in the Companya™s treasury for possible future use.
About REX American Resources Corporation
REX American Resources has interests in seven ethanol production facilities representing ownership of approximately 191 million gallons per year of annual nameplate capacity. The total annual nameplate capacity of ethanol production facilities in which REX has ownership interests is approximately 632 million gallons per year. Further information about REX is available at [ www.rexamerican.com ]
This news announcement contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by use of forward-looking terminology such as amay,a aexpect,a abelieve,a aestimate,a aanticipatea or acontinuea or the negative thereof or other variations thereon or comparable terminology. Readers are cautioned that there are risks and uncertainties that could cause actual events or results to differ materially from those referred to in such forward-looking statements. These risks and uncertainties include the risk factors set forth from time to time in the Companya™s filings with the Securities and Exchange Commission and include among other things: the impact of legislative changes, the price volatility and availability of corn, sorghum, dried distiller grains, ethanol, gasoline and natural gas, ethanol plants operating efficiently and according to forecasts and projections, changes in the national or regional economies, weather, the effects of terrorism or acts of war, changes in real estate market conditions and the impact of Internal Revenue Service audits. The Company does not intend to update publicly any forward-looking statements except as required by law.