logo
Share SHARE
FONT-SIZE Plus   Neg

Rent-A-Center Raises Authorization For Common Stock Repurchases To $1.25 Bln.

Rent-A-Center Inc. (RCII) said Friday its Board has increased the authorization for stock repurchases under its common stock repurchase plan to $1.25 billion from $1 billion.

To date, the the Plano, Texas-based company has repurchased a total of 31.589 shares of its common stock for an aggregate purchase price of about $794.8 million since the repurchase plan's inception. In the current year, the company has repurchased a total of 465,035 shares for about $17.4 million in cash.

Rent-A-Center leases household durable goods to customers on a rent-to-own basis. It offers products such as consumer electronics, appliances, and computers.

The company's stock closed Friday at $34.09, up 0.56%, on a volume of 600 thousand shares on the Nasdaq. In after hours, the stock dropped 0.11%.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Electric car maker Tesla's Chief Elon Musk confirmed that there will be no discount on new cars. Through several tweets and an email addressing its employees, Musk said, "It is absolutely vital that we adhere to the no negotiation and no discount policy that has been true since we first started taking orders 10 years ago." Shares of National Beverage Corp. fell about 15 percent on Wednesday after short selling firm Glaucus Research Group has said it is shorting the soft-drink maker and accused the company of manipulating earnings. In a research report, Glaucus alleged that National Beverage achieved its "remarkable history of financial performance in part by manipulating earnings." Canadian pipeline operator Enbridge Inc. said it has agreed to sell its liquids pipeline assets in the South Prairie Region, including the Saskatchewan pipeline system, to privately-held midstream company Tundra Energy Marketing Ltd. for C$1.075 billion in cash.
comments powered by Disqus
Follow RTT