Enova International , a leading financial technology company powered by machine learning and artificial intelligence, announced that its Board of Directors has authorized a share repurchase plan for up to $100 million of its common stock. This new program will be in place until June 30, 2023. The existing $150 million repurchase program will terminate and be replaced by this new program. Through February 8, 2022, Enova had repurchased $133 million in common stock under the terminating program.
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“The strong performance of our business gives us the flexibility to opportunistically return capital to shareholders and still focus on our primary goal of investing in our business to help borrowers move forward in their financial health and drive meaningful, sustainable and profitable growth,” said David Fisher, Enova’s CEO.
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Repurchases will be made in accordance with applicable securities laws from time to time in the open market, through privately negotiated transactions or otherwise. The share repurchase program does not obligate the Company to purchase any shares of its common stock. The authorization for the share repurchase program may be terminated, increased or decreased by the Company’s Board of Directors in its discretion at any time.
Enova International is a leading financial technology company providing online financial services through its artificial intelligence and machine learning powered lending platform. Enova serves the needs of non-prime consumers and small businesses, who are frequently underserved by traditional banks. Enova has provided more than 7 million customers with over $40 billion in loans and financing with market leading products that provide a path for them to improve their financial health.
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