Meta Financial Group, Inc.® Announces Common Stock Share Repurchase Program
September 07 2021 - 4:12PM
Meta Financial Group, Inc.® (Nasdaq: CASH) (the “Company”)
announced that its Board of Directors authorized a share repurchase
program to repurchase up to 6,000,000 shares of the Company’s
outstanding common stock on or before September 30, 2024.
Under its current stock repurchase program,
which expires on December 31, 2022, the Company has purchased
5,949,827 shares of the 7,500,000 total shares authorized for
repurchase. The Company may repurchase the remaining 1,550,173
shares under the current stock repurchase program on or before
December 31, 2022.
“Our Board of Directors’ decision to approve a
new share repurchase authorization reflects the underlying momentum
of our business and our continued confidence in the Company’s
growth trajectory, consistent with our balanced approach to capital
management,” said Douglas J. Hajek, Chairman of Meta’s Board of
Directors.
The Company may repurchase shares of its common
stock on the open market and/or in privately negotiated
transactions. Open market repurchases will be made in accordance
with applicable securities laws and regulations and may be effected
pursuant to Rule 10b5-1 trading plans. The manner, timing and
amount of any stock repurchases will be determined by the Company
based on its evaluation of various factors, including its
assessment of alternative uses of capital, the Company’s stock
trading price, general market and economic conditions, regulatory
requirements and other business and legal considerations. 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 or
discontinued at any time at the Company’s discretion.
Forward Looking StatementsThis
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 the number or manner of future stock repurchases. 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. 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. 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 fiscal year ended September 30, 2020. 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,
Inc.®Meta Financial Group, Inc.® (“Meta”)
(Nasdaq: CASH) is a South Dakota-based financial holding company.
At Meta, our mission is financial inclusion for all®. Through our
subsidiary, MetaBank®, N.A., we strive to remove barriers to
financial access and promote economic mobility by working with
third parties to provide responsible, secure, high quality
financial products that contribute to the social and economic
benefit of communities at the core of the real economy. Meta works
to increase financial availability, choice, and opportunity for
all. Additional information can be found by visiting
www.metafinancialgroup.com.
Investor Relations ContactBrittany Kelley
Elsasser605-362-2423bkelley@metabank.com
Media Relations
Contactmediarelations@metabank.com
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