First Cash Financial Services (FCFS) Declares $0.27 Quarterly Dividend, 1.3% Yield; Announces New Share Buyback Plan Up to $100M

First Cash Financial Services (NASDAQ: FCFS) declared a quarterly dividend of $0.27 per share, or $1.08 annualized.

The dividend will be payable on February 28, 2020, to stockholders of record on February 14, 2020, with an ex-dividend date of February 13, 2020.

The annual yield on the dividend is 1.3 percent.

Share Repurchases

During the fourth quarter, the Company repurchased 554,000 shares at an aggregate cost of $47 million. For the full year, the Company repurchased 1,305,000 shares at an aggregate cost of $114 million.

Since the merger with Cash America in September 2016 and through December 31, 2019, the Company has repurchased a total of 6,264,000 shares, or 31% of the shares issued as a result of the merger, at an average repurchase price of $76.87 per share, resulting in a 13% reduction in the total number of shares outstanding immediately following the merger.
Subsequent to year end and through January 28, 2020, the Company repurchased an additional 332,000 shares at an aggregate cost of $28 million and expects to complete the $100 million share repurchase program authorized in October 2018 by the end of January.

On January 28, 2020, the Board of Directors approved a new share repurchase authorization of up to $100 million of repurchases. Future share repurchases are subject to expected liquidity, debt covenant restrictions and other relevant factors.

For a dividend history and other dividend-related data on First Cash Financial Services (FCFS) click here.

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