Primerica (PRI) Announces $50 Million Increase to Stock Repurchase Program, Bringing Maximum to $375 Million

August 11, 2022 4:15 PM EDT

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Primerica, Inc. (NYSE: PRI) today announced that its Board of Directors has authorized a $50 million increase to its previously announced share repurchase program through December 31, 2022, bringing the total authorization to $375 million. As a result, the Company expects to repurchase $356 million of its common stock in 2022. The share repurchases may be made from time to time through open market transactions, block trades and/or privately negotiated transactions and are subject to market conditions, as well as corporate, regulatory, and other considerations.

“Our Term Life business remains a consistent source of deployable capital that has enabled us to provide an attractive return to our investors through a combination of quarterly cash dividends and share buybacks,” said CEO Glenn Williams. “It continues to demonstrate such strength that the Board of Directors has once again increased the program limit demonstrating its faith in our ongoing ability to generate capital and support growth in our businesses.”

This share repurchase program may be discontinued at any time by the Board of Directors, and the Company has no obligation to repurchase any amount of its common stock under the program. The Company intends to make all repurchases in compliance with applicable regulatory guidelines and to administer the plan in accordance with applicable laws, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Stock Buybacks

Related Entities

Dividend, Stock Buyback, Definitive Agreement