Aaron's Directors Increase Share Repurchase Authorization to $250 Million

Rhea-AI Summary

The Aaron's Company has increased its share repurchase authorization to $250 million, up from $150 million, and extended its maturity to December 31, 2024. As of March 2, 2022, approximately $147 million is still available under this new plan. The shares may be bought through various methods, with decisions influenced by market conditions and legal requirements. There is no guarantee of the number of shares repurchased, and the program can be extended or discontinued at Aaron's discretion.

Positive

• Increased share repurchase authorization to $250 million enhances shareholder value.
• Remaining repurchase capacity of $147 million signals strong financial health.

Negative

• None.

ATLANTA, March 2, 2022 /PRNewswire/ -- The Aaron's Company, Inc. ("Aaron's") (NYSE: AAN), a leading, technology-enabled, omnichannel provider of lease-to-own and purchase solutions, today announced that its Board of Directors has increased its share repurchase authorization to $250 million from the original $150 million plan and extended the maturity by one year to December 31, 2024. As of today, March 2, 2022, approximately $147 million remains available under this new authorization limit.

The shares may be purchased from time to time in the open market, in privately negotiated transactions or in other manners as permitted by federal securities laws and other legal and contractual requirements. The timing, manner, price and amount of any repurchases will be determined by Aaron's in its discretion and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors. There is no guarantee as to the number of shares that will be repurchased, and the stock repurchase program may be extended, suspended, or discontinued at any time without notice at Aaron's discretion.

About Aaron's
Headquartered in Atlanta, The Aaron's Company, Inc. (NYSE: AAN), is a leading, technology-enabled, omnichannel provider of lease-to-own and purchase solutions. Aaron's engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, appliances, and accessories through its approximately 1,300 Company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform, Aarons.com. For more information, visit investor.aarons.com or Aarons.com.

 

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SOURCE The Aaron's Company, Inc.

FAQ

What is the new share repurchase authorization for Aaron's (AAN)?

The new share repurchase authorization for Aaron's is $250 million, up from $150 million.

When does the new share repurchase program for AAN expire?

The new share repurchase program for AAN expires on December 31, 2024.

How much of the repurchase authorization is available as of March 2, 2022?

As of March 2, 2022, approximately $147 million remains available under the new repurchase authorization.

What factors will influence the share repurchase decisions made by Aaron's (AAN)?

Share repurchase decisions will be influenced by market conditions, stock price, and applicable legal requirements.

Can Aaron's (AAN) discontinue the share repurchase program?

Yes, Aaron's can extend, suspend, or discontinue the share repurchase program at any time without notice.