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World Acceptance board OKs stock repurchase


Staff Report
Published Nov. 21, 2012

The board of directors for World Acceptance Corp. on Monday granted the company approval to repurchase up to $75 million in its common stock, according to a regulatory filing with the U.S. Securities and Exchange Commission.

Stock in the growing Greenville-based finance company is trading above $70 a share on Nasdaq.

The board’s latest action is in addition to similar repurchase authorizations of $50 million announced in May. After taking into account all shares repurchased through Monday, the company has approximately $86.6 million in aggregate remaining repurchase capacity.

World Acceptance said the timing and actual number of shares repurchased will depend on a variety of factors, including the stock price, corporate and regulatory requirements, and other market and economic conditions. The program could be suspended or discontinued at any time.

World Acceptance is a provider of short-term, small loans to consumers and operates more than 1,100 offices in 13 states and Mexico. It is also the parent company of ParaData Financial Systems, a provider of computer software for the consumer finance industry.

Previous coverage

World Acceptance expands, posts smaller quarterly profit
World Acceptance reports increased profit for fiscal first quarter
World Acceptance buying back stock
Quarterly earnings continue to rise at World Acceptance Corp.
Record earnings continue for World Acceptance Corp.


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