Today’s actions reflect the Board’s continued confidence in the Company’s future prospects. Given current market conditions, we expect to continue to strategically repurchase shares.
Seattle, Washington (PRWEB) September 20, 2016
The Board of Directors of Washington Federal, Inc. (NASDAQ-WAFD) today announced the authorization of an additional 5 million shares that may be repurchased under the Company’s share repurchase program. Fiscal year to date, the Company has repurchased 3,750,658 shares or 4.04% of the shares that were outstanding at the beginning of the year, at an average price of $22.61. The Company also purchased 891,411 in warrants, which it deems to be equivalent to 294,077 shares calculated at the market price of $26.22 on the date of purchase. Including this increase, the Company is authorized to repurchase an additional $5,156,495 shares under its stock repurchase program.
Roy M. Whitehead, Chairman and Chief Executive Officer commented, “Today’s actions reflect the Board’s continued confidence in the Company’s future prospects. Given current market conditions, we expect to continue to strategically repurchase shares.”
Washington Federal, Inc. is the parent company of Washington Federal, a national bank that provides consumer and commercial deposit accounts, insurance products, and financing for small to middle market businesses, commercial real estate and residential real estate, including consumer mortgages and home equity lines of credit. Established in 1917, the Company operates 240 branches in Washington, Oregon, Idaho, Utah, Nevada, Arizona, Texas and New Mexico. As of June 30, 2016, the Company reported $14.8 billion in assets, $10.6 billion in deposits and $2.0 billion in stockholders’ equity. To find out more about the Company, please visit the website. The Company uses its website to distribute financial and other material information about the Company, which is routinely posted on and accessible at http://www.washingtonfederal.com.