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EVERTEC Enters Into Accelerated Share Repurchase Agreement
EVTCEvertec(EVTC) Businesswire·2024-03-06 12:33

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--EVERTEC, Inc. (NYSE: EVTC) (“Evertec” or the “Company”) today announced that it has entered into an Accelerated Share Repurchase (ASR) agreement with Bank of America, N.A. by which the Company will repurchase 70millionofitscommonstock.TheASRisexpectedtobecompletedbythethirdquarterof2024.Additionally,theCompany′sBoardofDirectorsapprovedanincreasetothesharerepurchaseauthorizationtoanaggregate70 million of its common stock. The ASR is expected to be completed by the third quarter of 2024. Additionally, the Company's Board of Directors approved an increase to the share repurchase authorization to an aggregate 220 million and an extension to the expi ...