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Bimini Capital board approves share buyback plan


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Bimini Capital board approves share buyback plan

Bimini Capital Management Inc.'s board has approved a plan for the company to repurchase up to 500,000 common shares until about Nov. 15.

The authorization represents approximately 4% of the company's outstanding shares. The shares may be repurchased from time to time in open market transactions or certain other transactions.

Bimini Capital is an asset manager that invests primarily in residential mortgage-related securities issued by Fannie Mae, Freddie Mac and Ginnie Mae.