Meta Financial Group, Inc.® Announces Common Stock Share Repurchase Program
March 26 2019 - 8:30AM
Meta Financial Group, Inc.® (Nasdaq: CASH) (the “Company”),
announced that its Board of Directors authorized a share repurchase
program to repurchase up to 2,000,000 shares of the Company’s
outstanding common stock (approximately 5% of outstanding shares as
of February 28, 2019). The program will be effective May 1, 2019
through September 30, 2021.
The Company may repurchase shares on the open
market and/or in privately negotiated transactions, which may
include repurchases pursuant to Rule 10b5-1 trading plans, at times
and prices considered appropriate, made from time to time at the
discretion of the Company, and subject to its assessment of
alternative uses of capital, stock trading price, general market
conditions and applicable regulatory and legal factors. The
repurchase program does not obligate the Company to acquire any
particular amount of common stock or to acquire shares on any
particular timetable, and the program may be suspended at any time
at the Company’s discretion.
This press release and other important
information about the Company are available at
metafinancialgroup.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements reflect
our current views with respect to, among other things, future
events, including those relating to share repurchases by the
Company, and our financial performance. These statements are often,
but not always, made through the use of words or phrases such as
“may”, “might”, “should”, “could”, “predict”, “potential”,
“believe”, “expect”, “continue”, “will”, “anticipate”, “seek”,
“estimate”, “intend”, “plan”, “projection”, “would”, “annualized”
and “outlook”, or the negative version of those words or other
comparable words or phrases of a future or forward-looking
nature. These forward-looking statements are based on current
expectations, estimates and projections about our industry,
management’s beliefs and certain assumptions made by management,
many of which, by their nature, are inherently uncertain and beyond
our control. Accordingly, we caution you that any such
forward-looking statements are not guarantees of future performance
and are subject to risks, assumptions, estimates and uncertainties
that are difficult to predict. Although we believe that the
expectations reflected in these forward-looking statements are
reasonable as of the date made, actual results may prove to be
materially different from the results expressed or implied by the
forward-looking statements as a result of various risks,
uncertainties and other factors, including, without limitation,
future economic, competitive and market conditions; the market
price of the Company’s stock prevailing from time to time;
alternative uses of cash and the nature of other investment
opportunities presented to the Company from time to time; and
future business decisions. For a discussion of some of the risks
and important factors that could affect our future results and
financial condition, see our U.S. Securities and Exchange
Commission filings, including, but not limited to, our Annual
Report on Form 10-K for the year ended September 30, 2018.
The Company expressly disclaims any intent or obligation to update
any forward-looking statements, whether written or oral, that may
be made from time to time by or on behalf of the Company or its
subsidiaries, whether as a result of new information, changed
circumstances or future events, or for any other reason.
About Meta Financial Group
Meta Financial Group, Inc.® (Nasdaq: CASH) is
the holding company for the financial services company MetaBank®
(“Meta”). Founded in 1954, Meta has grown to operate in several
different financial sectors: payments, commercial finance, tax
services, community banking and consumer lending. Meta works with
high-value niche industries, strategic-growth companies and
technology adopters to grow their businesses and build more
profitable customer relationships. Meta tailors solutions for bank
and non-bank businesses, and provides a focused collaborative
approach. The organization is helping to shape the evolving
financial services landscape by directly investing in innovation
and complementary businesses that strategically expand its suite of
services. Meta has a national presence and over 1,200 employees,
with corporate headquarters in Sioux Falls, S.D. For more
information, visit the Meta Financial Group website or
LinkedIn.
Investor
Relations Contact: |
|
Brittany Kelley
Elsasser |
|
Director of Investor
Relations |
|
605.362.2423 |
|
bkelley@metabank.com |
|
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