Victory Capital Announces New Share Repurchase Authorization
December 21 2021 - 8:00AM
Business Wire
Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital”
or the “Company”) today announced that its Board of Directors has
approved a new common stock repurchase program authorizing the
repurchase of up to $15 million of its Common Stock through
December 31, 2023.
“The primary use of our free cashflow remains supporting growth
initiatives such as funding strategic acquisitions and reducing
debt to enhance balance sheet flexibility,” said David Brown,
Chairman and Chief Executive Officer. “Given our ability to
generate strong cashflow, we can continue returning capital to
shareholders via share repurchases and cash dividends, while
simultaneously investing in our business to support future
growth.”
The Company’s current $15 million stock repurchase
authorization, initiated in May of this year, has been largely
completed.
Under the new program, which will commence immediately upon
completion of the current program, the Company may purchase its
shares from time to time in the open market or in privately
negotiated transactions. The amount and timing of the purchases
will depend on a number of factors including the price and
availability of the Company's shares, trading volume, capital
availability, Company performance and general economic and market
conditions. The share repurchase program may be suspended or
discontinued at any time.
About Victory Capital
Victory Capital is a diversified global asset management firm
with $160.5 billion in assets under management as of November 30,
2021. It was ranked ninth on Fortune’s list of the 100 Fastest
Growing Companies for 2021. The Company operates a next-generation
business model combining boutique investment qualities with the
benefits of a fully integrated, centralized operating and
distribution platform.
Victory Capital provides specialized investment strategies to
institutions, intermediaries, retirement platforms and individual
investors. With 11 autonomous Investment Franchises and a Solutions
Platform, Victory Capital offers a wide array of investment
products, including mutual funds, ETFs, separately managed
accounts, alternative investments, collective investment trusts,
private funds, and a 529 Education Savings Plan.
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Investors: Matthew Dennis, CFA Chief of Staff Director,
Investor Relations 216-898-2412 mdennis@vcm.com Media:
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