Pennymac Financial Services (PFSI) Approves $50M Buyback Plan

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Go back to Pennymac Financial Services (PFSI) Approves $50M Buyback Plan

PennyMac Financial Services, Inc. Announces $50 Million Stock Repurchase Program

June 21, 2017 4:30 PM EDT

WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- PennyMac Financial Services, Inc. (NYSE: PFSI) (the Company) today announced that its Board of Directors has authorized a stock repurchase program under which the Company may repurchase up to $50 million of its outstanding Class A common stock.

We believe that the repurchase of common stock will enhance value for our stockholders, said Executive Chairman Stanford L. Kurland. PennyMac has repeatedly generated after-tax returns on equity that compare favorably, on a risk-adjusted basis, to other investment opportunities available to us. Our strong capital position enables us to deploy capital... More