WORLD ACCEPTANCE CORP
For the period ended Dec 31, 2023. Filed Feb 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 7, 2024
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Item 1A. Risk Factors
There have been no material changes to the risk factors disclosed in Part I, Item 1A of the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2023.
The Company's credit agreements contain certain limits on share repurchases. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources."
On November 9, 2023, the Board of Directors authorized the Company to repurchase up to $20.0 million of the Company’s outstanding common stock, inclusive of the amount that remained available for repurchase under prior repurchase authorizations. As of December 31, 2023 the Company had $2.8 million in aggregate remaining repurchase capacity under its current share repurchase program. The timing and actual number of shares repurchased will depend on a variety of factors, including the stock price, corporate and regulatory requirements, available funds, alternative uses of capital, restrictions under the revolving credit agreement, and other market and economic conditions. The Company’s stock repurchase program may be suspended or discontinued at any time.
The repurchase authorization does not have a stated expiration date. The following table details purchases of the Company's common stock, if any, made by the Company during the three months ended December 31, 2023:
| (a)Total number ofshares purchased | (b)Average price paidper share | (c)Total number of shares purchasedas part of publicly announcedplans or programs | (d)Approximate dollar value of sharesthat may yet be purchasedunder the plans or programs(1) | |
|---|---|---|---|---|
| October 1 through October 31, 2023 | — | $— | — | $1,123,544 |
| November 1 through November 30, 2023 | 64,062 | 110.18 | 64,062 | 12,941,576 |
| December 1 through December 31, 2023 | 84,703 | 119.38 | 84,703 | 2,829,485 |
| Total for the quarter | 148,765 | $115.42 | 148,765 |
None.
Not applicable.
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