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 $150 million of its common stock. This new program will be in place until December 31, 2022. The existing $50 million repurchase program will terminate and be replaced by this new program. Through November 3, 2021, Enova had repurchased $23 million in common stock under the existing program.
“The significant expansion in our share repurchase program demonstrates our confidence in the continued strength of our business relative to our current valuation,” said David Fisher, Enova’s CEO. “Our strong balance sheet and liquidity position gives us the flexibility to deliver on our commitment to long-term shareholder value through both share repurchases and investment in our business to drive meaningful, sustainable and profitable growth.”
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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.
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