Welcome to our dedicated page for Atlanticus Holdings news (Ticker: ATLC), a resource for investors and traders seeking the latest updates and insights on Atlanticus Holdings stock.
Atlanticus Holdings Corporation (ATLC) delivers innovative credit solutions through its technology-driven financial services platform. This news hub provides investors and stakeholders with essential updates on corporate developments, strategic partnerships, and operational milestones.
Access timely press releases covering earnings reports, credit portfolio expansions, and technology initiatives. Our curated collection helps users track ATLC's progress in consumer finance markets while maintaining awareness of risk management practices and regulatory compliance updates.
Key updates include quarterly financial results, leadership announcements, product launches in private label credit programs, and advancements in predictive analytics capabilities. Bookmark this page for direct access to original source materials and objective reporting on ATLC's market activities.
Atlanticus Holdings (NASDAQ: ATLC) has announced an underwritten registered public add-on offering of its 9.25% Senior Notes due 2029. This offering will be an addition to the existing $57,250,000 aggregate principal amount of notes previously issued. The company plans to use the net proceeds to redeem a portion of Class B preferred units issued by a subsidiary and/or for general corporate purposes.
The Additional Notes are expected to be fungible with the Existing Notes for U.S. federal income tax purposes and will trade on Nasdaq under the symbol 'ATLCZ'. Atlanticus and this issuance received an 'A' rating from Egan-Jones Ratings Company. The offering is being made through a shelf registration statement and will be managed by B. Riley Securities, Janney Montgomery Scott, Lucid Capital Markets, and William Blair & Company as book-running managers.
Synchrony (NYSE: SYF) has announced an enhanced partnership with Atlanticus Holdings (NASDAQ: ATLC) focusing on second look financing solutions. This partnership will provide preferred second look financing for private label credit cards and installment loans under the Fortiva brand. The collaboration aims to increase sales and brand loyalty for Synchrony merchants by offering more customers access to credit. This program will streamline enrollment processes and offer favorable merchant pricing. The initiative is expected to attract a broader customer base, including underserved populations. The partnership, which began in 2019, leverages Atlanticus' analytics and technology to offer inclusive financial solutions and potentially allow customers to graduate to Synchrony credit products.
Atlanticus Holdings (NASDAQ: ATLC) announced that its Board of Directors has approved a quarterly cash dividend of $0.476563 per share for Series B Cumulative Perpetual Preferred shareholders.
The dividend will be distributed on or around June 15, 2024, to shareholders on record as of June 1, 2024. Atlanticus is a financial technology company focusing on inclusive financial services for banks, retail, and healthcare partners in the U.S.
Atlanticus Holdings (NASDAQ: ATLC) reported an 11.2% growth in total operating revenue for the first quarter of 2024, with managed receivables increasing by 12.8% to $2.3 billion. The company served over 3.5 million accounts, generating a return on average shareholders' equity of 19.6%. Net income attributable to common shareholders was $19.9 million, or $1.09 per diluted common share. Despite challenges such as higher delinquency rates and a changing regulatory environment, Atlanticus remains focused on achieving target returns and expanding its platform.
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