Primerica Announces $375 Million Share Repurchase Program For 2023
November 17 2022 - 4:15PM
Business Wire
Primerica, Inc. (NYSE: PRI) today announced that its Board of
Directors has authorized a $375 million share repurchase program to
occur from January 1, 2023 through December 31, 2023. The share
repurchases may be made from time to time through open market
transactions, block trades and/or privately negotiated transactions
and are subject to market conditions, as well as corporate,
regulatory, and other considerations.
“We remain committed to serving the needs of middle-income
families as we have done for more than four decades. Our term life
face amount in force exceeds $912 billion, providing valuable
income protection for our clients, while client asset values were
almost $80 billion as of September 30, 2022 as we assist families
investing for their futures,” said Glenn Williams, Chief Executive
Officer. “The Board is equally committed to returning capital to
our stockholders as demonstrated by today’s announcement of a new
share repurchase program.”
This share repurchase program may be discontinued at any time by
the Board of Directors, and the Company has no obligation to
repurchase any amount of its common stock under the program. The
Company intends to make all repurchases in compliance with
applicable regulatory guidelines and to administer the plan in
accordance with applicable laws, including Rule 10b-18 of the
Securities Exchange Act of 1934, as amended.
About Primerica, Inc.
Primerica, Inc., headquartered in Duluth, GA, is a leading
provider of financial services to middle-income households in North
America. Independent licensed representatives educate Primerica
clients about how to better prepare for a more secure financial
future by assessing their needs and providing appropriate solutions
through term life insurance, which we underwrite, and mutual funds,
annuities and other financial products, which we distribute
primarily on behalf of third parties. We insured over 5.7 million
lives and had over 2.7 million client investment accounts on
December 31, 2021. Primerica, through its insurance company
subsidiaries, was the #2 issuer of Term Life insurance coverage in
the United States and Canada in 2021. Primerica stock is included
in the S&P MidCap 400 and the Russell 1000 stock indices and is
traded on The New York Stock Exchange under the symbol “PRI”.
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version on businesswire.com: https://www.businesswire.com/news/home/20221117006074/en/
Investor Contact: Nicole Russell 470-564-6663 Email:
nicole.russell@primerica.com
Media Contact: Susan Chana 404-229-8302 Email:
susan.chana@primerica.com
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