Dividends & Buybacks ·
Sunrise Realty Trust authorizes $20M stock repurchase program effective after merger with Southern Realty
SUNSSunrise Realty Trust, Inc.
The Board of Directors authorized a common stock repurchase program to buy back up to $20.0 million of shares through December 31, 2027. The program is contingent on the closing of the proposed merger with Southern Realty Trust Inc., and no repurchases will occur prior to that event. Following the merger, the company intends to repurchase at least $10.0 million of stock as soon as practicable. Sunrise Realty Trust operates in the commercial real estate lending sector.