Western Union Announces $1 Billion Share Buyback Plan and Quarterly Dividend

2 min read | December 15, 2024 09:06 PM PST | By Team Kalkine Media

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Western Union Announces $1 Billion Share Buyback Plan and Quarterly Dividend — Image source: shutterstock

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Highlights

$1 Billion Share Buyback Plan: Western Union's Board of Directors has approved a substantial share repurchase program to enhance shareholder value.

Quarterly Dividend Declared: A cash dividend of $0.235 per share will be paid on December 31, 2024, to shareholders of record as of December 23, 2024.

Strategic Flexibility: The share repurchase program offers flexibility with no expiration date and allows for adjustments based on market and legal conditions.

The Western Union Company (NYSE:WU), a global leader in cross-border money transfers, has unveiled a significant financial move aimed at enhancing shareholder value. The company's Board of Directors has authorized a new $1 billion share repurchase program and declared a quarterly cash dividend of $0.235 per common share, payable on December 31, 2024, to stockholders on record as of December 23, 2024.

Devin McGranahan, President and Chief Executive Officer of Western Union, expressed the company's continued commitment to rewarding shareholders. "We remain dedicated to returning capital to our shareholders through a disciplined approach focused on driving long-term value. Today’s announcements provide us with the flexibility to maintain this commitment," McGranahan stated.

The newly approved $1 billion authorization allows Western Union to repurchase its common stock through various means, including open-market transactions, privately negotiated deals, tender offers, or Rule 10b5-1 plans. The timing and quantity of repurchases will depend on factors such as market conditions, share price, and legal considerations.

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