FinTech Enova International’s board of directors has given the thumbs up for a repurchase plan for up to $50m of its common stock.
Enova said its new programme will be in place until December 31, 2021 and is an expansion of the current $75m million repurchase programme, which expires on December 31, 2020.
“This expansion demonstrates our commitment to driving long-term shareholder value and reflects our confidence in the continued strength of the business relative to our current valuation,” said David Fisher, CEO of Enova.
“Our strong balance sheet and liquidity position gives us the flexibility to opportunistically enhance shareholder value through share repurchases while also investing in our business to drive sustainable and profitable growth.”
Earlier this summer, Enova acquired OnDeck in a $90m deal.
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