OPY - Oppenheimer adopts stock buyback program for up to 550K class A shares

Oppenheimer's (NYSE:OPY) board has authorized the middle market investment bank to acquire up to 550K shares of its class A non-voting common stock, representing about 4.6% of its class A shares outstanding, the company said on Tuesday. The authorization supplements the 71,893 shares remaining under its previous share repurchase program. The new stock buyback program is expected to continue indefinitely. Earlier this year, SA contributor Value Investment Principals took a look at the company's dividend yield and share repurchases.

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Oppenheimer adopts stock buyback program for up to 550K class A shares