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Enova (ENVA) Announces New $300M Share Repurchase Program
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Enova International, Inc.’s (ENVA - Free Report) board of directors has approved a new share repurchase plan. As part of the program, which expires on Dec 31, 2025, $300 million worth of shares are authorized for buyback.
This new program replaces the existing $300 million share repurchase plan, announced in October 2023. The company repurchased roughly $201 million of shares during the first six months of 2024.
Prior to the October 2023 program, ENVA announced a $100 million share repurchase plan in February 2022, which was extended up to $150 million in November 2022.
David Fisher, CEO of Enova, stated, “The board's authorization of a new $300 million share repurchase program and our balance sheet flexibility continue to support the creation of long-term shareholder value from both portfolio growth and meaningful capital returns.”
Notably, ENVA doesn’t pay dividends.
As of Jun 30, 2024, Enova’s accrued payable and accrued expenses were $334 million, and cash and cash equivalents totaled $60.1 million, excluding restricted cash of $211.2 million.
Given its strong balance sheet and liquidity position, Enova is expected to be able to sustain its current share repurchase plan. This will keep enhancing shareholders’ wealth.
Share Buyback Plans of Other Financial Services Firms
Red River Bancshares Inc. (RRBI - Free Report) entered into a private stock repurchase agreement with two of its shareholders for $3 million as of Aug 8, 2024. This move lowered its repurchase program availability by the same amount.
Per the agreement, the company is set to repurchase 60,000 shares for $3 million, signifying a discount to the 10, 20 and 30-day volume weighted average price as of Jul 31, 2024.
In light of this agreement, RRBI has amended its $5 million program, which was approved in December 2023. Upon the completion of this transaction, the company will have roughly $1.2 million worth of shares available under the repurchase.
Similarly, last month, FS Bancorp, Inc. (FSBW - Free Report) announced a quarterly dividend hike and an additional share repurchase program.
The company declared a dividend of 27 cents per share, reflecting a 3.8% increase from the prior payout. The dividend will be paid out on Aug 21, 2024, to shareholders of record as of Aug 7.
Along with the recent dividend hike, FSBW’s board authorized an additional share buyback program of up to $5 million worth of shares. The repurchase plan will remain active through Jul 31, 2025.
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Enova (ENVA) Announces New $300M Share Repurchase Program
Enova International, Inc.’s (ENVA - Free Report) board of directors has approved a new share repurchase plan. As part of the program, which expires on Dec 31, 2025, $300 million worth of shares are authorized for buyback.
This new program replaces the existing $300 million share repurchase plan, announced in October 2023. The company repurchased roughly $201 million of shares during the first six months of 2024.
Prior to the October 2023 program, ENVA announced a $100 million share repurchase plan in February 2022, which was extended up to $150 million in November 2022.
David Fisher, CEO of Enova, stated, “The board's authorization of a new $300 million share repurchase program and our balance sheet flexibility continue to support the creation of long-term shareholder value from both portfolio growth and meaningful capital returns.”
Notably, ENVA doesn’t pay dividends.
As of Jun 30, 2024, Enova’s accrued payable and accrued expenses were $334 million, and cash and cash equivalents totaled $60.1 million, excluding restricted cash of $211.2 million.
Given its strong balance sheet and liquidity position, Enova is expected to be able to sustain its current share repurchase plan. This will keep enhancing shareholders’ wealth.
Share Buyback Plans of Other Financial Services Firms
Red River Bancshares Inc. (RRBI - Free Report) entered into a private stock repurchase agreement with two of its shareholders for $3 million as of Aug 8, 2024. This move lowered its repurchase program availability by the same amount.
Per the agreement, the company is set to repurchase 60,000 shares for $3 million, signifying a discount to the 10, 20 and 30-day volume weighted average price as of Jul 31, 2024.
In light of this agreement, RRBI has amended its $5 million program, which was approved in December 2023. Upon the completion of this transaction, the company will have roughly $1.2 million worth of shares available under the repurchase.
Similarly, last month, FS Bancorp, Inc. (FSBW - Free Report) announced a quarterly dividend hike and an additional share repurchase program.
The company declared a dividend of 27 cents per share, reflecting a 3.8% increase from the prior payout. The dividend will be paid out on Aug 21, 2024, to shareholders of record as of Aug 7.
Along with the recent dividend hike, FSBW’s board authorized an additional share buyback program of up to $5 million worth of shares. The repurchase plan will remain active through Jul 31, 2025.