Bread Financial (BFH) Increases Share Repurchase Program

By Bobby Samwell • Monday, December 02 10:20 • Permanent Link

Bread Financial® Holdings, Inc. (NYSE: BFH) has announced a significant increase in its 2024 share repurchase program. The board of directors has approved a $25 million increase, expanding the authorization from $30 million to $55 million of common stock through December 31, 2024. As of the date of the release, the company had approximately $19 million remaining under its prior share repurchase program, and this increase will bring the total amount of share repurchase authorization to approximately $44 million through the end of 2024.

The amended share repurchase program is designed to offset the impact of dilution associated with issuances of employee restricted stock units and permits the company to make open market share repurchases from time to time through December 31, 2024. This is in compliance with SEC Rule 10b-18 and subject to market conditions and other factors, including legal and regulatory restrictions and required approvals, up to the aggregate amount authorized by the board.

Bread Financial® (NYSE: BFH) is a tech-forward financial services company providing simple, personalized payment, lending, and saving solutions. The company, headquartered in Columbus, Ohio, aims to create opportunities for its customers and partners through digitally enabled choices that offer ease, empowerment, financial flexibility, and exceptional customer experiences.

Driven by a digital-first approach, data insights, and white-label technology, Bread Financial delivers growth for its partners through a comprehensive suite of payment solutions that includes private label and co-brand credit cards and Bread Pay® buy now, pay later products. Additionally, Bread Financial also offers direct-to-consumer products that give customers more access, choice, and freedom through its branded Bread Cashback® American Express® credit card, Bread Rewards™ American Express® credit card, and Bread Savings® products. The market has reacted to these announcements by moving the company's shares 1.0% to a price of $59.4. For the full picture, make sure to review Bread Financial's 8-K report.

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