Enova International Inc
For the period ended Sep 30, 2024. Filed Oct 23, 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.
Sep 30, 2024 · Filed Oct 23, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
The following table provides the information with respect to purchases made by us of shares of our common stock.
| Period | Total Number of Shares Purchased(a) | Average Price Paid Per Share(b) | Total Number of Shares Purchased as Part of Publicly Announced Plan(c) | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plan(b)(c)(in thousands) |
|---|---|---|---|---|
| July 1 – July 31, 2024 | 105,181 | $63.14 | 105,181 | $45,822 |
| August 1 – August 31, 2024 | 34,146 | 76.90 | 32,354 | 299,263 |
| September 1 – September 30, 2024 | 171,720 | 80.85 | 171,720 | 285,379 |
| Total | 311,047 | $74.43 | 309,255 | $285,379 |
(a) Includes shares withheld from employees as tax payments for shares issued under the Company’s stock-based compensation plans of 1,792 for the month of August. These shares were not acquired pursuant to a publicly announced repurchase plan.
(b) The Inflation Reduction Act of 2022, which was enacted into law on August 16, 2022, imposed a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. During the three months ended September 30, 2024, the Company reflected the applicable excise tax in treasury stock as part of the cost basis of the stock repurchased and recorded a corresponding liability for the excise taxes payable in accounts payable and accrued expenses on the consolidated balance sheet. All dollar amounts presented exclude such excise taxes.
(c) On October 24, 2023, the Company announced the Board of Directors authorized a new share repurchase program totaling $300.0 million through December 31, 2024 (the “October 2023 Authorization”). The October 2023 Authorization replaced the previous authorization. On August 12, 2024, the Company announced the Board of Directors authorized a new share repurchase program totaling $300.0 million through December 31, 2025 (the “August 2024 Authorization”). The August 2024 Authorization replaced the October 2023 Authorization. All share repurchases made under the August 2024 Authorization and October 2023 Authorization were made through open market transactions. Our share repurchase program is subject to market conditions, does not obligate us to purchase any shares of our common stock, and may be terminated, increased or decreased by the Board of Directors in its discretion at any time.
We do not plan to declare cash dividends in the foreseeable future. Any declaration of dividends is at the discretion of our Board of Directors. Our agreements governing our existing debt contain restrictions which limit our ability to pay dividends.
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