Nationstar Announces $100 Million Share Repurchase Program
January 10 2017 - 4:53PM
Business Wire
Nationstar Mortgage Holdings Inc. (NYSE: NSM) (“Nationstar”)
announced today that its Board of Directors has approved the
repurchase of up to $100 million of the company's common stock
through December 31, 2017. This program replaces the previous share
repurchase program, which expired on December 16, 2016.
"Nationstar’s Board of Directors and management team firmly
believe in our long-term growth prospects. This new share
repurchase authorization from our Board provides optionality for us
and allows us to continue to improve investor returns through
intelligent capital management," said Jay Bray, Chairman and Chief
Executive Officer.
The repurchase program allows the company to repurchase its
common stock using open market stock purchases or privately
negotiated transactions. The number of shares repurchased and the
timing of repurchases will depend on a number of factors,
including, but not limited to, share price, trading volume and
general market conditions, along with working capital requirements,
general business conditions and other factors. The share repurchase
program may be suspended, modified or discontinued at any time at
Nationstar's discretion. The company intends to finance the share
repurchase program through cash on hand.
The company had approximately 97.5 million shares of common
stock outstanding as of September 30, 2016.
About Nationstar
Based in Dallas, Texas, Nationstar provides quality servicing,
origination and transaction-based services related principally to
single-family residences throughout the United States. With
experience spanning more than 20 years, Nationstar is one of the
largest servicers in the country. Additional details about
Nationstar can be found at www.mynationstar.com.
Forward-Looking
Statements
This press release contains "forward-looking statements," as
defined in the Private Securities Litigation Reform Act of 1995,
related to the company's plans with respect to share repurchases,
involving, among other things, uncertainties inherent in business
and financial planning. The reader is cautioned not to rely on
these forward-looking statements. These statements are based on
current expectations of future events. If underlying assumptions
prove inaccurate or known or unknown risks or uncertainties
materialize, actual results could vary materially from the
expectations and projections of Nationstar. Risks and uncertainties
include, but are not limited to, market conditions; the possibility
that the repurchase program may be suspended or discontinued;
economic factors, such as interest rate and currency exchange rate
fluctuations; the ability of the company to successfully execute
strategic plans; the impact of acquisitions and divestitures; and
significant adverse litigation or government action. Certain of
these risks and uncertainties are described in the "Business" and
"Risk Factors" sections of our most recent annual report and other
required documents as filed with the SEC which are available at the
SEC’s website at http://www.sec.gov. Nationstar undertakes no
obligation to publicly update or revise any forward-looking
statements or any other financial information contained herein, and
the statements made in this press release are current as of the
date of this release only.
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version on businesswire.com: http://www.businesswire.com/news/home/20170110006406/en/
Nationstar Mortgage Holdings Inc.Robert Stiles, 972-316-5383
Nationstar Mortgage Holdings (NYSE:NSM)
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