The board of directors of Astoria Financial Corp., Lake Success, N.Y., has authorized the repurchase of 8 million shares of the company's common stock, approximately 10% of its outstanding common shares.The purchase of shares will be carried out in open-market or privately negotiated transactions, the company said. The stock repurchase program, Astoria Financial's 10th, will begin immediately upon the completion of the current program, of which approximately 870,000 shares remain, the company said. Astoria Financial is the holding company for Astoria Federal Savings and Loan Association, which the holding company said is the sixth-largest thrift institution in the United States. It can be found online at http://www.astoriafederal.com.
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