Standard Premium Expands Stock Repurchase Program Following Strong Q2 Results

Core Viewpoint - Standard Premium Finance Holdings, Inc. has expanded its stock repurchase program to enhance shareholder value following a strong second quarter performance, indicating confidence in the company's strategic direction and growth trajectory [1][2]. Financial Performance - The company reported $3.1 million in revenue for the second quarter, with income before taxes amounting to $345,000 and a return on equity of 15% [1]. Stock Repurchase Program - The board of directors has authorized an expansion of the stock repurchase program from $250,000, allowing repurchases in the open market and through private negotiations with stockholders [1][2]. - The program is subject to market conditions, stock price, regulatory requirements, and corporate liquidity needs, and it does not obligate the company to repurchase a specific number of shares [2]. Strategic Focus - The company aims to sustainably enhance shareholder value through prudent capital deployment and strategic execution as it continues to scale its business [3]. - Standard Premium Finance has financed over $2 billion in property and casualty insurance policies since 1991 and operates in 38 states, seeking M&A opportunities to leverage economies of scale [4].