mcloudyn.png
Tuesday January 18th, 2022 12:05AM

Primerica Announces $275 Million Stock Repurchase Program Through December 2022

By The Associated Press

DULUTH, Ga.--(BUSINESS WIRE)--Nov 17, 2021--

Primerica, Inc. (NYSE: PRI) today announced that its Board of Directors has authorized a share repurchase program through December 31, 2022, pursuant to which the Company is authorized to repurchase up to $275 million of its common stock, with repurchases expected to begin in 2021. The share repurchases may be made from time to time through open market transactions, block trades and/or privately negotiated transactions and are subject to market conditions, as well as corporate, regulatory, and other considerations.

“Last week we reported another quarter of solid financial results for Primerica. Our investment and savings business continues to experience robust growth, while demand for life insurance protection remains above pre-pandemic levels," said CEO Glenn Williams. “We remain committed to driving value by growing our business, serving our clients, and generating capital to return to our stockholders. This $275 million repurchase authority is evidence of our commitment.”

This share repurchase program replaces the $300 million program that was previously authorized in February 2021 for repurchases through June 30, 2022. This share repurchase program may be discontinued at any time by the Board of Directors, and the Company has no obligation to repurchase any amount of its common stock under the program. The Company intends to make all repurchases in compliance with applicable regulatory guidelines and to administer the plan in accordance with applicable laws, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended.

Primerica, Inc., headquartered in Duluth, GA, is a leading provider of financial services to middle-income households in the United States and Canada. Independent licensed representatives educate Primerica clients about how to better prepare for a more secure financial future by assessing their needs and providing appropriate solutions through term life insurance, which the company underwrites, and mutual funds, annuities and other financial products, which the company distributes primarily on behalf of third parties. Primerica insured over 5.5 million lives and had approximately 2.6 million client investment accounts at December 31, 2020. Primerica, through its insurance company subsidiaries, was the #2 issuer of Term Life insurance coverage in North America in 2020. Primerica stock is included in the S&P MidCap 400 and the Russell 1000 stock indices and is traded on The New York Stock Exchange under the symbol “PRI.”

View source version on businesswire.com:

CONTACT: Primerica, Inc.Investor:

Nicole Russell, 470-564-6663

[email protected]:

Keith Hancock, 470-564-6328

[email protected]

KEYWORD: GEORGIA UNITED STATES NORTH AMERICA CANADA

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: Primerica, Inc.

Copyright Business Wire 2021.

PUB: 11/17/2021 04:50 PM/DISC: 11/17/2021 04:51 PM

http://www.businesswire.com/news/home/20211117006355/en

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Online - Georgia News, AP Business Wire - Georgia, AP Business - Financial Markets, AP Business - Industries, AP Business - Financial Services
© Copyright 2022 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
4 ex-coal mine officials cleared in Kentucky fraud trial
A federal jury has cleared four former coal company officials who were accused of skirting dust rules in two underground Kentucky mines
5:35PM ( 1 minute ago )
2 men set to be cleared in the 1965 killing of Malcolm X
Two of the three men convicted in the assassination of Malcolm X are to be cleared after insisting on their innocence since the 1965 killing
5:25PM ( 10 minutes ago )
Boston museum workers on 1-day strike over pay, COVID safety
Pandemic-weary workers at Boston’s Museum of Fine Arts are holding a one-day strike over stalled contract negotiations with management
5:19PM ( 17 minutes ago )
Associated Press (AP)
NJ breaks own monthly sports betting record: $1.3B in bets
New Jersey’s red-hot sports betting industry smashed its own national record in October for the highest amount of bets taken in a single month, topping $1.3 billion
4:47PM ( 49 minutes ago )
House censures Rep. Gosar for violent video in rare rebuke
The House has voted to censure Republican Rep. Paul Gosar of Arizona for posting an animated video that depicted him killing Democratic Rep. Alexandria Ocasio-Cortez with a sword
4:32PM ( 1 hour ago )
Electric vehicles get spotlight at Los Angeles Auto Show
Battery-powered vehicles will get top billing at the Los Angeles Auto Show opening this week after a year’s hiatus due to the coronavirus pandemic
4:29PM ( 1 hour ago )
AP Business
Striking Deere workers vote Wednesday on 3rd contract offer
More than 10,000 striking Deere & Co. workers are voting on a new contract offer from the tractor maker, but this third deal is strikingly similar to a contract that 55% of workers rejected two weeks ago
2:55PM ( 2 hours ago )
Stocks fall as market turns choppy amid inflation concerns
Stocks are moving lower on Wall Street as the market takes a choppy turn amid inflation concerns
1:20PM ( 4 hours ago )
Target tames global supply backups; sales surge 13.2% in Q3
Target delivered another quarter of strong results, overcoming a slew of challenges from inflationary pressures to congested ports
10:23AM ( 7 hours ago )
AP Business - Corporate News
In the SEC, defense reigns again with Georgia, Bama on top
Alabama coach Nick Saban and Georgia’s Kirby Smart continue to make their ability to field elite defenses a big part of their formula for maintaining consistently elite programs in the Southeastern Conference
4:23PM ( 1 hour ago )
Defensive line has No. 6 Notre Dame sitting in first class
No. 6 Notre Dame has been able to count on its defensive line all season
4:01PM ( 1 hour ago )
Man who shot Ahmaud Arbery takes stand at murder trial
The man who fatally shot Ahmaud Arbery has testified that he feared the 25-year-old Black man was armed with a gun when he encountered Arbery “creeping” outside an unfinished house in his neighborhood 12 days before the shooting
3:12PM ( 2 hours ago )
AP Online - Georgia News
AP Business Wire - Georgia
Biden's nominee for bank regulator faces hostile opposition
President Joe Biden nominated Saule Omarova to be the nation’s next comptroller of the currency in September
2:13PM ( 3 hours ago )
Lebanese central bank governor says corruption charges false
Lebanon’s central bank governor says he asked an auditing firm to look into transactions and investments and that contrary to media reports, the results showed no public money has been misused
9:29AM ( 8 hours ago )
EU pitches new plan to battle global deforestation from home
The European Union is pitching a new plan for the bloc’s citizens to battle global deforestation from home
9:04AM ( 8 hours ago )
AP Business - Financial Markets
US offers investment to boost global COVID vaccine capacity
The Biden administration is making billions of dollars available to drugmakers to scale up domestic production of COVID-19 vaccines
2:27PM ( 3 hours ago )
US offering investment to boost COVID-19 vaccine capacity
The Biden administration is making billions of dollars available to drugmakers to scale up domestic production of COVID-19 vaccines in the hopes of building capacity to produce an additional 1 billion shots per year to share globally
12:04PM ( 5 hours ago )
US holds huge crude sale in Gulf coming off climate pledges
The U.S. Interior Department on Wednesday auctioned hundreds of oil and gas leases in the Gulf of Mexico in a sale that attracted bids from major energy companies
11:59AM ( 5 hours ago )
AP Business - Industries
Reports: Trump selling DC hotel to investment firm for $375M
Donald Trump’s opulent hotel near the White House that drew lobbyists and diplomats seeking favor with the ex-president is being sold to a Miami investment group
12:01PM ( 2 days ago )
Argentina's opposition scores win in midterm elections
Argentine President Alberto Fernández has suffered a severe setback in  midterm elections held amid widespread anger over high inflation and rising poverty
11:44PM ( 2 days ago )
Argentina president suffers big loss in midterm elections
Argentine President Alberto Fernández has suffered a severe setback in  midterm elections held amid widespread anger over high inflation and rising poverty
10:03PM ( 2 days ago )
AP Business - Financial Services
2 men set to be cleared in the 1965 killing of Malcolm X
Two of the three men convicted in the assassination of Malcolm X are to be cleared after insisting on their innocence since the 1965 killing
5:25PM ( 10 minutes ago )
White House: 10% of kids have been vaccinated in 1st 2 weeks
The White House says about 10% of eligible kids aged 5 to 11 have received a dose of the Pfizer COVID-19 vaccine since its approval for their age group two weeks ago
5:01PM ( 34 minutes ago )
Biden pushes electric vehicle chargers as energy costs spike
President Joe Biden is highlighting billions of dollars in his big new infrastructure deal to pay for the installation of electric vehicle chargers across the country
5:00PM ( 35 minutes ago )
Lawsuit: Baldwin had no reason to fire in 'Rust' shooting
A new lawsuit alleges that Alec Baldwin recklessly fired a gun when it wasn’t called for in the script when he shot and killed cinematographer Halyna Hutchins on the New Mexico set of the film “Rust.”
4:58PM ( 37 minutes ago )
Top US envoy appeals for preservation of democracy in Africa
U.S. Secretary of State Antony Blinken has  begun his first official visit to Africa with an appeal for the preservation of democracy in politically and ethnically fractured societies
4:57PM ( 38 minutes ago )