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

Editors Pick
The recent week marked the lull before the storm, with very few market moving economic numbers released during the week. However, the economic news flow picks up pace in the upcoming week, offering glimpses into every vehicle of economic growth, ranging from consumers to private sector activity to housing.... Life expectancy at birth in the U.S. is already lower than most other developed nations and is now projected to fall further behind by 2030, according to a new study. It also suggests that by 2030, national female life expectancy in South Korea could break the 90 year barrier. Department store chain J.C. Penney Co. Inc. on Friday reported a turnaround to profit in the fourth quarter as a slight decline in sales was more than offset by lower expenses. Adjusted earnings per share for the quarter beat analysts' expectations, while revenues slightly missed their estimates. Earlier today, J.C. Penny announced a plan to optimize its national retail operations.
comments powered by Disqus
Follow RTT