Capstead Mortgage Corp. (NYSE:CMO) announces a share repurchase program. Under the program, the company will repurchase up to $100 million worth of its common stock.

Any repurchases made pursuant to the program will be made in the open market from time to time in accordance with and as permitted by securities laws and other legal requirements. The timing, manner, price and amount of any repurchases will be determined by the company in its discretion and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors. The company will repurchase such shares as deemed by management to be appropriate relative to portfolio reinvestment options and liquidity needs.

In addition, the company may enter into Rule 10b5-1 plans under which repurchases can be made. The authorization does not obligate the company to acquire any particular amount of common stock and repurchases under the program and the program itself may be suspended or discontinued at the company's discretion without prior notice.