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News Breaks | | | | December 13, 2012 | | 15:36 EDT |  | PEO | Petroleum & Resources extends share repurchase program
The Board of Directors of Petroleum & Resources voted to extend its share repurchase program and has authorized the repurchase of up to 5% of the outstanding shares of the Fund's common stock (i.e., up to 1,282,726 shares) through December 31, 2013. Any purchases that occur will be made in the open market when market conditions and portfolio management considerations warrant and the shares are trading at a discount of at least 6.5%. | |
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