The board of Ascendant Group Limited, the parent company of Belco, has authorised the repurchase of up to one million shares through a further share repurchase programme, starting on May 23, the day after its current repurchase programme ends.

The new authorised share repurchase programme represents approximately 10 per cent of the company’s overall listed securities and is being implemented for the purpose of improving shareholder liquidity.

On The Royal Gazette/BSX Index, shares of Butterfield Bank ended 75 cents down, or 1.5 per cent, at $47.75 after 7,311 were traded. While on the New York Stock Exchange, the bank’s shares were up 45 cents, or .94 per cent, at $48.15.

The Royal Gazette/BSX Index was down 33.73 points, or 1.24 per cent, at 2,679.01.

The BSX Insurance Index was down 3.87, or 0.21 per cent, to 1,848.69.