Canterbury Park Announces $5M Stock Repurchase Program
Ticker: CPHC · Form: 8-K · Filed: Jun 6, 2024 · CIK: 1672909
Sentiment: neutral
Topics: stock-repurchase, shareholder-value
Related Tickers: CPHC
TL;DR
CPHC authorized a new $5M stock buyback, running through June 2025.
AI Summary
Canterbury Park Holding Corp. announced on June 6, 2024, that its Board of Directors has authorized a new stock repurchase program. The company may repurchase up to $5.0 million of its common stock through June 5, 2025. This program replaces the previous one which expired on June 5, 2024.
Why It Matters
This repurchase program signals management's confidence in the company's valuation and can potentially increase shareholder value by reducing the number of outstanding shares.
Risk Assessment
Risk Level: low — Stock repurchase programs are generally considered a positive signal and do not inherently introduce new risks to the company.
Key Numbers
- $5.0M — Stock Repurchase Authorization (The company is authorized to buy back up to this amount of its common stock.)
- June 5, 2025 — Repurchase Program End Date (The new stock repurchase program is authorized to continue until this date.)
Key Players & Entities
- Canterbury Park Holding Corp. (company) — Registrant
- $5.0 million (dollar_amount) — Authorized repurchase amount
- June 5, 2025 (date) — Expiration date of new repurchase program
- June 5, 2024 (date) — Expiration date of previous repurchase program
FAQ
What is the total amount authorized for the new stock repurchase program?
The Board of Directors has authorized the repurchase of up to $5.0 million of the company's common stock.
What is the duration of the new stock repurchase program?
The new program is authorized to continue through June 5, 2025.
Does this new program replace a previous one?
Yes, this new program replaces the previous stock repurchase program which expired on June 5, 2024.
What is the company's ticker symbol?
The ticker symbol for Canterbury Park Holding Corporation is CPHC.
In which state is Canterbury Park Holding Corporation incorporated?
Canterbury Park Holding Corporation is incorporated in Minnesota.
Filing Stats: 517 words · 2 min read · ~2 pages · Grade level 11.7 · Accepted 2024-06-06 11:40:02
Filing Documents
- cphc20240605_8k.htm (8-K) — 25KB
- ex_684312.htm (EX-99.1) — 18KB
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- 0001437749-24-019419.txt ( ) — 3493KB
- cphc-20240606.xsd (EX-101.SCH) — 3KB
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- cphc-20240606_lab.xml (EX-101.LAB) — 15KB
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01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure On June 6, 2024, Canterbury Park Holding Corporation (the "Company") will hold its 2024 Annual Meeting of Shareholders (the "Annual Meeting"). At the Annual Meeting, management of the Company will give the presentation attached hereto as Exhibit 99.1. The information in this Item 7.01 and Exhibit 99.1 is intended to be furnished under Item 7.01 and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933 as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d.) Exhibits 99.1 Presentation for the 2024 Annual Meeting of Shareholders of Canterbury Park Holding Corporation 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CANTERBURY PARK HOLDING CORPORATION Dated: June 6, 2024 By: /s/ Randall D. Sampson Randall D. Sampson President and Chief Executive Officer