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FirstCash Guides Q1 Below View; Boosts Qtly Dividend - Quick Facts

While reporting financial results for the fourth quarter on Wednesday, retail pawn stores operator FirstCash, Inc. (FCFS) initiated earnings and adjusted earnings growth guidance for the full-year 2020. The company also declared a higher quarterly cash dividend and announced a new share repurchase authorization.

For fiscal 2020, the company now projects earnings in a range of $4.05 to $4.25 per share, representing an increase of 6 to 12 percent. Adjusted earnings are expected to increase in a range of 11 to 16 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.34 per share for the year. Analysts' estimates typically exclude special items.

The company is also providing quarterly guidance for the first quarter of 2020 with an expectation of adjusted earnings in the range of $0.85 to $0.95 per share, reflecting an expected decrease in first quarter consumer lending revenues of approximately 89 percent. The Street is looking for quarterly earnings of $1.03 per share.

Additionally, the company's Board of Directors declared a 8 percent higher quarterly cash dividend of $0.27 per share, payable on February 28, 2020 to stockholders of record as of February 14, 2020.

The Board of Directors also approved a new share repurchase authorization of up to $100 million of repurchases.

Further, the company plans to open approximately 90 to 100 new full-service pawn stores in 2020 in Latin America, which includes openings in Mexico, Guatemala and Colombia.

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