Published Nov. 21, 2012
The board of directors for World Acceptance Corp. on Monday granted the company approval to repurchase up to $75 million in its common stock, according to a regulatory filing with the U.S. Securities and Exchange Commission.
Stock in the growing Greenville-based finance company is trading above $70 a share on Nasdaq.
The board’s latest action is in addition to similar repurchase authorizations of $50 million announced in May. After taking into account all shares repurchased through Monday, the company has approximately $86.6 million in aggregate remaining repurchase capacity.
World Acceptance said the timing and actual number of shares repurchased will depend on a variety of factors, including the stock price, corporate and regulatory requirements, and other market and economic conditions. The program could be suspended or discontinued at any time.
World Acceptance is a provider of short-term, small loans to consumers and operates more than 1,100 offices in 13 states and Mexico. It is also the parent company of ParaData Financial Systems, a provider of computer software for the consumer finance industry.