Fidelity National Financial, Inc. Announces New Three-Year, 25 Million Share Repurchase Program
Fidelity National Financial (NYSE:FNF) has announced a new three-year stock repurchase program, starting on August 3, 2021. The program allows for the buyback of up to 25 million shares of common stock until July 31, 2024. This follows the previous program, which repurchased 17.4 million shares by its conclusion. The company is a leading provider of title insurance and transaction services in the U.S. market.
- New three-year buyback program for 25 million shares aims to enhance shareholder value.
- Previous repurchase program successfully bought back 17.4 million shares, indicating strong commitment to returning capital.
- Dependence on title insurance underwriters may pose risks amid economic fluctuations.
- Potential integration challenges following recent transactions could impact operational efficiency.
JACKSONVILLE, Fla., Aug. 3, 2021 /PRNewswire/ -- Fidelity National Financial, Inc. (NYSE:FNF) ("FNF" or the "Company") today announced that its Board of Directors has approved a new three-year stock repurchase program, effective August 3, 2021, under which the Company may repurchase up to 25 million shares of FNF common stock. Purchases may be made from time to time by the Company in the open market at prevailing market prices or in privately negotiated transactions through July 31, 2024. Under its previous three-year repurchase program, which expired on July 31, 2021, the company repurchased a total of 17.4 million shares of common stock.
About Fidelity National Financial, Inc.
Fidelity National Financial, Inc. is a leading provider of title insurance and transaction services to the real estate and mortgage industries. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title and National Title of New York - that collectively issue more title insurance policies than any other title company in the United States. More information about FNF can be found at www.fnf.com.
Forward-Looking Statements and Risk Factors
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: the ability of FNF to successfully integrate F&G's operations and employees; the potential impact of the consummation of the F&G transaction on relationships, including with employees, suppliers, customers and competitors; changes in general economic, business, political and COVID-19 conditions, including changes in the financial markets; weakness or adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U. S. economy; our potential inability to find suitable acquisition candidates; our dependence on distributions from our title insurance underwriters as a main source of cash flow; significant competition that F&G and our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of FNF's Form 10-K and other filings with the Securities and Exchange Commission ("SEC").
FNF-G
View original content:https://www.prnewswire.com/news-releases/fidelity-national-financial-inc-announces-new-three-year-25-million-share-repurchase-program-301347576.html
SOURCE Fidelity National Financial, Inc.
FAQ
What is the purpose of Fidelity National Financial's new stock repurchase program?
When does Fidelity National Financial's new buyback program start and end?
How many shares were bought back in the previous program by Fidelity National Financial?
Why might the new share repurchase program affect Fidelity National Financial's stock price?
