Camden National (CAC) Approves 775K Share Buyback Plan

Camden National Corporation (NASDAQ: CAC) has announced that its board of directors has approved a stock repurchase plan. The plan authorizes the purchase of up to 775,000 shares of the Company's common stock, representing approximately 5 percent of the Company's issued and outstanding shares of common stock as of September 30, 2018.

"The board of directors has authorized this stock repurchase plan based on the strength of the Company's balance sheet and capital position. We believe a share repurchase plan is an important tool that can be utilized to enhance long term shareholder value," stated Gregory A. Dufour, president and chief executive officer.

Share repurchases will be made periodically as permitted by securities laws and other legal requirements and will be subject to market conditions, as well as other factors. Repurchases may be made in the open market, through block trades or otherwise, and in privately negotiated transactions. If any share purchases are made, they will be over a period of not greater than twelve months. Share purchases may be commenced or suspended at any time or periodically without prior notice and there can be no assurances as to how many shares the Company will repurchase, if any, or at what price any repurchases will be made.

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