Bogota Financial Receives Regulatory Approval for Sixth Stock Repurchase Program.

Bogota Financial has received regulatory approval for its sixth repurchase program, allowing the repurchase of up to 237,590 shares of common stock, or 5% of outstanding shares. The program was previously approved by the company's board of directors.

Bogota Financial Corp. (Nasdaq: BSBK), the holding company for Bogota Savings Bank, has received regulatory approval for its sixth stock repurchase program. The program, which was previously approved by the company's board of directors, allows for the repurchase of up to 237,590 shares of common stock, representing approximately 5% of the outstanding shares [1].

The stock repurchase program, which has no expiration date, can be modified or terminated at any time. The timing and amount of repurchases will depend on various factors, including stock availability, market conditions, and the company's financial performance. Shares may be repurchased in open market transactions or private transactions, adhering to SEC regulations [1].

The approval of this stock repurchase program demonstrates the company's confidence in its financial stability and management. It also signifies a commitment to returning value to shareholders by potentially increasing the stock price through reduced supply. This is the sixth such program for Bogota Financial Corp., indicating a consistent strategy of capital management and shareholder return [1].

However, the program does not obligate the company to purchase a specific number of shares, which could create uncertainty for investors regarding the company's intentions and future stock performance. Additionally, the program may be suspended or terminated at any time, adding to the potential risks and uncertainties for investors [1].

References:
[1] https://www.quiverquant.com/news/Bogota+Financial+Corp.+Announces+Regulatory+Approval+for+%241.8+Million+Stock+Repurchase+Program