Conn's Plans $150M Share Repurchase Program

by Shivani Kumaresan, Benzinga Staff Writer

December 15, 2021 7:05 AM | 1 min read |

Conn's Inc CONN Board of Directors has authorized a repurchase program of $150 million of its outstanding stock. The approval will expire on December 14, 2022.
"The $150 million share repurchase program is the largest in Conn's history and represents approximately 30% of our current market capitalization," said CEO Chandra Holt.
The company plans to fund this program through available corporate funds, including cash on hand, future cash flow, and drawing on its revolving credit facility.
Conn held $36.1 million in cash and equivalents as of October 31, 2021.
Price Action: CONN shares traded higher by 3.74% at $18.60 in premarket on the last check Wednesday.