Danaos Corp repurchased three times the number of shares it had originally planned to buy back, thanks to two shareholders.
The John Coustas-led owner of 63 boxships has rebought 4.34m shares of common stock for $31.1m from two investors, closing a repurchase programme begun in early August.
Danaos announced plans in a 3 August earnings report to buy back $10m in stock, but the Royal Bank of Scotland (RBS) and Sphinx Investment offered to sell more than $30m in shares.
