DALLAS, June 28, 2019 /PRNewswire/ -- Today, Santander
Consumer USA Holdings lnc. (NYSE:
SC) (the "Company") announced its planned capital actions for the
third quarter of 2019 through the second quarter of 2020, which are
included in the 2019 Capital Plan (the "Capital Plan") of Santander
Holdings USA, Inc. ("SHUSA"), the
majority stockholder of the Company.
The Company's planned capital actions under the Capital Plan
include:
- A quarterly cash dividend of $0.22 per share, an increase from $0.20 per share; and
- An authorization to repurchase up to $1.1 billion of the Company's outstanding common
stock (the "Share Repurchase Program") through the end of the
second quarter of 2020.
The Share Repurchase Program, which has been authorized by the
Company's and SHUSA's boards of directors, is in addition to the
Company's previously announced $400
million share repurchase program, which concluded with the
repurchase of $86.8 million of the
Company's common stock.
The timing and amount of any stock repurchases, dividends and
any other capital actions will depend on a variety of factors,
including the market price of the Company's shares, the business
plans and financial performance of the Company, general market and
economic conditions, and other factors, and are subject to any
applicable regulatory requirements and approval by the Company's
and SHUSA's boards of directors. The Share Repurchase Program may
be executed through open market purchases, in privately negotiated
transactions and/or through plans designed to comply with Rule
10b5-1 of the Securities Exchange Act of 1934. The Share Repurchase
Program does not obligate the Company to acquire any particular
amount of common stock, and it may be suspended or discontinued at
any time.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Any statements about expectations, beliefs, plans,
predictions, forecasts, objectives, assumptions, or future events
or performance are not historical facts and may be forward-looking
and reflect the current beliefs and expectations of the Company's
management. These statements are often, but not always, made
through the use of words or phrases such as "anticipates,"
"believes," "can," "could," "may," "predicts," "potential,"
"should," "will," "estimate," "plans," "projects," "continuing,"
"ongoing," "expects," "intends," and similar words or phrases.
Although the Company believes that the expectations reflected in
these forward-looking statements are reasonable, these statements
are not guarantees of future performance and involve risks and
uncertainties which are subject to change based on various
important factors, some of which are beyond the Company's control.
Factors that could cause the Company's actual results to differ
materially from those described in the forward-looking statements
can be found in the Company's Annual Report on Form 10-K for the
year ended December 31, 2018 and
Quarterly Report on Form 10-Q for the quarter ended March 31, 2019, which have been filed with the
Securities and Exchange Commission and are available on the
Company's website
(http://investors.santanderconsumerusa.com/investor-home/default.aspx)
and on the Securities and Exchange Commission's website
(www.sec.gov). The Company does not undertake to update the
forward-looking statements to reflect the impact of circumstances
or events that may arise after the date of the forward-looking
statements.
Santander Consumer USA
Holdings Inc. (NYSE: SC) is a full service consumer
finance company focused on vehicle finance, third-party servicing
and delivering superior service to our more than 2.7 million
customers across the full credit spectrum. The Company, which began
originating retail installment contracts in 1997, had an average
managed asset portfolio of approximately $54
billion as of March 31, 2019,
and is headquartered in Dallas.
(www.santanderconsumerusa.com)
Media Relations:
Laurie
Kight
214.801.6455
Media@santanderconsumerusa.com
Investor Relations:
Evan
Black
800.493.8219
InvestorRelations@santanderconsumerusa.com
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SOURCE Santander Consumer USA
Holdings Inc.