Enova announces $100 million share buyback program
CHICAGO, February 9, 2022 /PRNewswire/ — Enova International (NYSE: ENVA), a leading financial technology company powered by machine learning and artificial intelligence, today announced that its board of directors has authorized a buyout plan up to $100 million of its common stock. This new program will be in place until June 30, 2023. The existing program $150 million redemption will end and be replaced by this new program. Through February 8, 2022, Enova had repurchased $133 million of common stock under the Termination Program.
“The strong performance of our business gives us the flexibility to opportunistically return capital to shareholders while focusing on our primary objective of investing in our business to help borrowers improve their financial health and generate meaningful growth, sustainable and profitable,” said David Fisher, CEO of Enova.
Redemptions will be made in accordance with applicable securities laws from time to time in the open market, through privately negotiated transactions or otherwise. The share repurchase program does not require the Company to purchase shares of its common stock. The authorization of the share buyback program may be terminated, increased or reduced at any time by the Board of Directors of the Company.
Enova International (NYSE: ENVA) is a leading fintech company that provides online financial services through its artificial intelligence and machine learning-based lending platform. Enova caters to the needs of unprivileged consumers and small businesses, which are often underserved by traditional banks. Enova has provided over 7 million customers with over $40 billion in loans and financing with market-leading products that help them improve their financial health. You can learn more about the company and its brands at www.enova.com.
Caution Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the business, financial condition and prospects of Enova. These forward-looking statements give current expectations or forecasts of future events and reflect the beliefs and assumptions of Enova’s senior management with respect to Enova’s business, financial condition and prospects as of the date of this release. and are not guarantees of future performance. Enova’s actual results could differ materially from those indicated by these forward-looking statements due to various risks and uncertainties applicable to Enova’s business, including, without limitation, the risks and uncertainties indicated in Enova’s filings. with the Securities and Exchange Commission (“SEC”), including our Annual Report on Form 10-K, our Quarterly Reports on Forms 10-Q, and our Current Reports on Forms 8-K. These risks and uncertainties are beyond Enova’s ability to control and, in many cases, Enova cannot predict all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this release, the words “believes”, “estimates”, “plans”, “expects”, “anticipates” and similar expressions or variations with respect to Enova or its management are intended to identify statements prospective. Enova cautions you not to place undue reliance on these statements. Enova disclaims any intention or obligation to update or revise any forward-looking statements after the date of this release.
SOURCEEnova International, Inc.