Blue Star Foods Announces Stock Buyback Program for Up to $1.5 Million

Blue Star Foods Corp. (NASDAQ: BSFC) recently disclosed its decision to implement a stock repurchase program in an effort to boost shareholder value. This move was officially approved by the company’s Board of Directors on November 22, 2024.

The stock repurchase program, also known as the Repurchase Program, authorizes Blue Star Foods to buy back up to $1.5 million of its common stock over the course of the next year, from time to time, through open market transactions. The program is set to conclude no later than November 22, 2025. It’s essential to note that Blue Star Foods is not obligated to repurchase any specific number of shares, and the repurchases will not exceed 25% of the average daily trading volume over the preceding 20 trading days.

Furthermore, in a press release issued on November 26, 2024, Blue Star Foods announced the initiation of the Repurchase Program. The company’s Chairman and CEO, John Keeler, emphasized their confidence in Blue Star’s business growth and underlying value. Keeler stated, “We believe our stock is significantly undervalued. This buyback program represents an attractive opportunity to return value to our shareholders.”

Blue Star Foods Corp., a Delaware corporation based in Miami, Florida, focuses on sustainable seafood practices, particularly Recirculatory Aquaculture Systems (RAS). The company’s strategic approach combines Environmental, Social, and Governance (ESG) principles to provide high-value seafood products to customers.

Investors and interested parties can access Blue Star Foods’ corporate website at https://bluestarfoods.com for additional information regarding the company’s operations and business initiatives.

It is essential to acknowledge that this press release may contain forward-looking statements within the meaning of applicable securities legislation. These statements are subject to risks and uncertainties, as outlined in the Company’s filings with the Securities and Exchange Commission.

For further inquiries, shareholders and potential investors can reach out to Blue Star Foods Corp. via email at [email protected].

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Blue Star Foods’s 8K filing here.

About Blue Star Foods

Blue Star Foods Corp., through its subsidiaries, operates as a marine protein company in the United States and Canada. The company imports, packages, and sells refrigerated pasteurized crab meats and other premium seafood products. It sells its products primarily to food service distributors, as well as wholesalers, retail establishments, and seafood distributors under the Blue Star, Oceanica, Pacifika, Crab & Go, Lubkin's Coastal Pride, First Choice, Good Stuff, Coastal Pride Fresh, TOBC, and Little Cedar Farms brands.