Bread Financial Holdings, Inc. (NYSE: BFH) has announced the approval of a $150 million share repurchase program, demonstrating the company's focus on strengthening its balance sheet. Over the past five years, the company has prioritized building capital and reducing debt, leading to the issuance of tier 2 capital and the recent share repurchase authorization.
Ralph Andretta, President and CEO of Bread Financial, emphasized that the share repurchase authorization aligns with the company's capital priorities and will further strengthen its total capital ratios. This move is aimed at providing capital flexibility for future growth and optimizing the company's capital position over time.
The repurchase plan does not obligate the company to acquire any specific number of shares, and it may be subject to market conditions, legal and regulatory restrictions, and required approvals, up to the aggregate amount authorized by the board.
Bread Financial, a tech-forward financial services company, offers simple, personalized payment, lending, and saving solutions to millions of U.S. consumers. The company's payment solutions, including general purpose credit cards and savings products, aim to empower customers and their pursuits for a better life.
Additionally, Bread Financial delivers growth for well-known brands in various sectors such as travel & entertainment, health & beauty, jewelry, and specialty apparel through private label and co-brand credit cards and pay-over-time products, providing choice and value to shared customers.
Headquartered in Columbus, Ohio, Bread Financial is powered by its 6,000 global associates and is committed to sustainable business practices. Today the company's shares have moved 1.4% to a price of $51.22. For more information, read the company's full 8-K submission here.
