Atlanticus Holdings Corp - ATLC STOCK NEWS

Atlanticus Holdings Corporation (NASDAQ: ATLC) announced the promotion of Rosalind Drakeford to Managing Counsel, Chief Compliance Officer, and Corporate Secretary. With 23 years of experience as Assistant General Counsel and 10 years as Director of Compliance, Drakeford will enhance the company's compliance functions and manage the legal team. CEO Jeff Howard praised her contributions to compliance infrastructure, crucial for the company's goal of empowering financial outcomes for everyday Americans.

Atlanticus Holdings Corporation has launched the Aspire® Banking platform, a unique banking solution targeting the unbanked and underbanked populations in the U.S. This program allows customers to qualify for a credit card offer within 90 days upon completing specific banking activities. The Aspire® Banking service includes a debit card with no minimums or fees, and access to various banking features designed to promote positive financial habits. By aiming to save consumers from excessive fees and enabling credit access, Atlanticus demonstrates its commitment to financial inclusivity.

Atlanticus Holdings Corporation (NASDAQ: ATLC) has launched the Aspire® Banking platform, designed to help the unbanked and underbanked gain access to credit. This innovative program allows customers to complete a list of banking activities within 90 days to qualify for an Aspire® Credit Card. Key features include no minimums, no monthly fees, and access to extensive ATM networks. The platform aims to address the financial needs of nearly 44 million Americans who struggle with traditional banking, ultimately promoting better financial habits.

Atlanticus Holdings Corporation (NASDAQ: ATLC) has announced a quarterly dividend of $0.476653 per share for Series B Cumulative Perpetual Preferred stockholders. This dividend is set to be paid on or about September 15, 2022, to shareholders on record as of September 1, 2022. Atlanticus focuses on providing inclusive financial services, having supported over 18 million customers and facilitating $27 billion in consumer loans throughout its 25-year history.

Atlanticus Holdings Corporation (NASDAQ: ATLC) reported a significant 50.3% increase in total operating revenue for the second quarter of 2022, reaching $269.8 million, driven by a 40.2% rise in purchase volume to $769.1 million. The company serviced 3.2 million accounts, up 47.0%, and managed receivables grew 53.0% to $1.9 billion. Despite these gains, net income dropped 13.6% to $27.8 million, with earnings per diluted share at $1.46. Atlanticus also repurchased 355,036 shares for $12.9 million.

Atlanticus Holdings Corporation (NASDAQ: ATLC) announced a quarterly dividend of $0.483091 per share for Series B Cumulative Perpetual Preferred stockholders. The dividend will be paid on or about June 15, 2022, to shareholders on record as of the close of business on June 1, 2022. The company, focused on providing inclusive financial services through advanced analytics, has serviced over 18 million customers and originated $27 billion in consumer loans throughout its history.

Atlanticus Holdings Corporation (NASDAQ: ATLC) reported a 59.7% increase in first-quarter 2022 revenues, totaling $229.8 million. The substantial growth was fueled by a 55.2% rise in purchase volume, reaching $594.1 million, and a 58.1% increase in total customers served, now at 2.9 million. Earnings per diluted share rose 2.6% to $1.96, despite heightened marketing expenses. The company retired over 1 million shares during the quarter. However, total operating expenses surged 69.8% to $70 million, prompting cautious outlook amid potential economic stress and rising interest rates.