CHICAGO, March 21,
2023 /CNW/ - (NYSE: KFS)
– Kingsway Financial Services Inc. ("Kingsway" or
the "Company") today announced that its Board of Directors approved
a share repurchase program that authorizes the Company to
repurchase up to $10 million of its
common stock. The share repurchase program will have a one
year term.
Shares may be repurchased in open-market transactions or
privately negotiated transactions executed in compliance with
applicable federal and state securities laws. The timing of
the repurchases and the number of shares repurchased under the
program will depend on a variety of factors including price,
trading volume, corporate and regulatory requirements, and market
conditions.
The Company intends to enter into a trading plan with
Raymond James, to be adopted in
accordance with Rule 10b-18 and Rule
10b5-1 under the Exchange Act, to facilitate such share
repurchases.
About the Company
Kingsway is a holding company that owns or controls subsidiaries
primarily in the extended warranty and business services
industries. The common shares of Kingsway are listed on the New
York Stock Exchange under the trading symbol "KFS."
The Company serves the extended warranty industry through its
operating
subsidiaries IWS ( iwsgroup.com ), Penn
Warranty ( pennwarranty.com ), Preferred
Warranties ( preferredwarranties.com )
and Trinity Warranty
Solutions ( trinitywarranty.com ).
The Company serves the business services industry through its
operating
subsidiaries CSuite ( csuitefinancialpartners.com ), Ravix ( ravixgroup.com )
and Secure Nursing
Service ( securenursing.com ).
For more information, visit www.kingsway-financial.com.
Contact
Hayden IR
James Carbonara
(646)-755-7412
james@haydenir.com
OR
Kingsway Financial Services Inc.
Kent Hansen, CFO
312-766-2163
khansen@kingsway-financial.com
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SOURCE Kingsway Financial Services Inc.