The board of directors of Greenwich, Connecticut-based TICC Capital Corp has authorized a stock repurchase plan that allows for $75 million of share repurchases starting immediately and to run until 30 June 2016. The BDC has been trading at a discount to book value and posting poor results for some time.
TICC approves $75m in stock buybacks
The BDC continued to post falling revenues and assets in its Q3 earnings report and management declined to discuss the planned sale and rival bids for the firm.
