Univest In The News
Univest Corporation Announces Share Repurchase Program
Company Authorized to Repurchase Up to Five Percent of Outstanding Shares
SOUDERTON, Pa., August 22, 2007 – Univest Corporation (listed on NASDAQ: UVSP) announced that its board of directors has authorized an additional repurchase of up to five percent of the 12,875,642 shares of its outstanding common stock as of June 30, 2007, or 643,782 shares. The repurchased shares limit will be net of normal Treasury activity such as the Dividend Reinvestment Program, Employee Stock Purchase Program and Equity Compensation Plans.
The share repurchases will be purchased from time to time on the open market or through private negotiated transactions, and will be made at the discretion of management based upon market conditions and other factors. The new authorization plan, effective September 15, 2007, replaces the company’s previous repurchase program.
For more information on Univest Corporation, please visit www.univest.net.
This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. Such factors include the possibility that increased demand or prices for the Company's financial services and products may not occur, changing economic and competitive conditions, technological developments, and other risks and uncertainties, including those detailed in the company's filings with the Securities and Exchange Commission.