Nu Holdings Ltd. (NYSE: NU) announced that its board of directors approved a share repurchase program of up to $1.0 billion of the company's Class A ordinary shares. The program will be conducted over a 12-month period beginning June 4, 2026.

The São Paulo-based company stated the program reflects its capital allocation policy as operations now generate significant capital. The board determined that repurchasing shares represents an attractive use of that capital, according to the company's statement.

Nu Holdings said all growth investments across Brazil, Mexico, Colombia and the United States, including regulatory capital buffers, remain fully funded and unchanged.

The company indicated repurchases may be made from time to time in the open market in compliance with Rules 10b-18 and 10b5-1 under the Securities Exchange Act of 1934. The program does not obligate the company to repurchase any specific number of shares and may be suspended, modified, extended or discontinued at any time.

The information was disclosed in a press release statement from Nu Holdings.