Performance Shipping announced the completion of the $2M share repurchase plan announced in April 2023. Under this plan, the Company repurchased a total of 2,222,936 common shares for a total amount of approximately $2M. Additionally, the Company announced that its Board of Directors has approved a new share repurchase plan. Under the Plan, the Company may repurchase up to $2M of its outstanding common shares, representing approximately 12.2% of its market capitalization based on 10,910,319 outstanding common shares and the share price as of the close of trading on Friday, August 18, 2023.
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