ARMOUR Residential REIT Inc.'s board authorized an increase to its existing stock repurchase program of up to an aggregate of 9 million common shares of the company.

The shares may be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means.

Under the previous authorization, ARMOUR has repurchased approximately 7,376,000 common shares since May 30.