logo
Share SHARE
FONT-SIZE Plus   Neg

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

Correction: In the second paragraph, to amend the number of shares repurchased to date as 31.59 million shares.

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 31.59 million 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
TerraForm Global, Inc., an operator of clean energy power plants, said Monday that it has signed an exclusivity agreement with Brookfield Asset Management Inc. to negotiate a potential business combination between them. Shares of TerraForm Global are gaining more than 6 percent in pre-market activity following the announcement. Fast food giant McDonald's Corp. (MCD) on Monday reported a 1 percent decline in profit for the fourth quarter from last year on lower revenues due to the impact of refranchising. However, both revenue and earnings per share beat analysts' expectations. The Oak Brook, Illinois-based hamburger chain... U.S. authorities are investigating Yahoo Inc. for not disclosing the two massive data breaches sooner to investors, the Wall Street Journal reported, citing people familiar with the matter. It is expected that such a move could help clarify the timeline for companies to reveal such hacks.
comments powered by Disqus
Follow RTT