Assured Guaranty Ltd. (NYSE:AGO) Moves Forward With Buybacks In Q1

Posted by Chris Bell May 8, 2014 0 Comment 1290 views


Assured Guaranty Ltd. (NYSE:AGO) services include providing financial credit improvement products for US based companies and global operators seeking public finance. It has also built a diversified portfolio through a series of infrastructure financing, besides financial market places as well in recent quarters.

First Quarter Report

In its latest quarterly report, aligned on the same policies, the holding company for various integrated services has stepped up on the performance as well, with numbers beating estimates.

The operating income was viewed at $132 million, valued at $0.72 per share; beating estimates by $0.62.

However, the highlight of the first quarter has been a financial practice which is gaining currency among several companies in this sector and a few other sectors as well.

Buybacks boost AGO

AGO with a key role as a credit enhancer and ‘financial white knight’ for public finances on international projects chose to buy back from its shareholders 1.4m shares with the price at $25.92 per share. Latest reports, indicate that the number of repurchase is above 3 million shares priced at $25.19 per share.

A day before the announcement of quarterly results, the company also elected Yukiko Omura as an Independent member of the Board of Directors. The appointment will also hold additional charge as Finance Committee as well as Risk Oversight Committee.

Significance of Omura’s appointment

Assured Guaranty Ltd. (NYSE:AGO) Chairman, Robin Monro-Davies highlights the role Omura will now play in the company. “With more than 30 years of experience in the global infrastructure and finance markets, she will add an international perspective to our Board’s decision-making and be valuable in evaluating Assured Guaranty’s new business opportunities,” he noted in the press release.

Assured Guaranty Ltd. (NYSE:AGO) has also announced a quarterly dividend too at $0.11 per common share. These will be payable on June 4, 2014 to shareholders as of May 21, 2014.



About Chris Bell

Chris Bell is an investing reporter for GDP Insider. Chris covers financial markets and Wall Street, concentrating on developments affecting individual investors and their portfolios. Chris is also over consumer reporter and covers a wide variety of issues ranging from housing to immigration to urban poverty. Chris graduated from the University of Scranton with a degree in Communication and Philosophy. Chris's diligent investigations earned him the honor of being named "Best Reporter" once by the Headliners Foundation of Texas and once by the Houston Press Club.

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