Ally Financial (ALLY) Reports Up to $1.6B Share Buyback; Declares $0.19 Quarterly Dividend, 2% Yield

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Go back to Ally Financial (ALLY) Reports Up to $1.6B Share Buyback; Declares $0.19 Quarterly Dividend, 2% Yield

Ally announces up to $1.6 billion share repurchase authorization and dividend on common stock

January 12, 2021 4:15 PM EST

CHARLOTTE, N.C., Jan. 12, 2021 /PRNewswire/ -- Ally Financial Inc. (NYSE: ALLY) today announced that, based on results of the Federal Reserve Board (FRB) stress test process in December 2020, its board of directors has authorized the company to repurchase up to $1.60 billion of the company's common stock in 2021. The company will begin repurchasing shares in the first quarter, in accordance with the FRB's modified restrictions that limit combined repurchases and common dividends to an amount that does not exceed the average net income of the four preceding calendar quarters.  Additionally, the board... More