CBL Properties announces $25M stock buyback

CBL Properties announced that its Board of Directors authorized a stock repurchase program for the Company to buy up to $25M of its common stock. “The $25 million repurchase program allows us to allocate our capital to capture an attractive investment opportunity when our stock is trading at a significant discount,” said Stephen Lebovitz, chief executive officer. “This action, as well as the special dividend paid in March and attractive regular quarterly dividend, demonstrate our commitment to maximizing shareholder returns as well as our confidence in CBL‘s current and future value. Our strong cash balance and significant cash flow generation provide an ongoing source to support this program and other opportunities.”