Fiserv Announces Share Repurchase Authorization

Rhea-AI Summary

Fiserv, a leader in payments and financial services technology, announced a share repurchase authorization for 75 million shares, supplementing existing buyback plans. This initiative allows for purchases in the open market or through private transactions, depending on market conditions, with no expiration on the authorization. This strategic move aims to enhance shareholder value and demonstrates the company's confidence in its financial health. Fiserv is a member of the S&P 500 Index and recognized among Fortune's Most Admired Companies.

Positive

• Authorization for 75 million share repurchase enhances shareholder value.
• The buyback initiative indicates strong management confidence in Fiserv's financial health.

Negative

• None.

BROOKFIELD, Wis.--(BUSINESS WIRE)-- Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, announced that its Board of Directors has authorized it to repurchase 75 million shares of the company’s common stock, which is in addition to the shares remaining available under the company’s existing authorization.

Fiserv may repurchase shares in the open market or in privately negotiated transactions at the discretion of management, subject to its assessment of market conditions and other factors. This authorization does not expire.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies™. Visit fiserv.com and follow on social media for more information and the latest company news.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230223005462/en/

Media Relations:

Britt Zarling

Corporate Communications

Fiserv, Inc.

414-526-3107

britt.zarling@fiserv.com

Additional Contact:

Julie Chariell

Investor Relations

Fiserv, Inc.

212-515-0278

julie.chariell@fiserv.com

Source: Fiserv, Inc.

FAQ

What is the recent share repurchase authorization by Fiserv (FISV)?

Fiserv's Board has authorized the repurchase of 75 million shares of common stock, adding to the existing buyback plan.

How will Fiserv (FISV) conduct its share repurchase?

Shares may be bought in the open market or through private negotiations, based on market conditions.

Is there an expiration date for Fiserv's (FISV) share buyback program?

No, the share repurchase authorization does not expire.

What impact does the share repurchase have on Fiserv's (FISV) stock price?

The repurchase is expected to enhance shareholder value and potentially support the stock price.