Stock BuybacksBy The Online Investor Staff, updated Mon., Jan. 24, 11:26 AM
|This Slide: #13 of 25|
Slide #13. Ally Financial Inc.
Ally Financial Inc. (NYSE:ALLY)
Ally Financial Inc. (NYSE:ALLY) announced today that its board of directors has authorized the company to repurchase up to$2.0 billionof its common stock, effective untilDec. 31, 2022. Ally recently completed a$2.0 billionshare repurchase program in 2021, and expects to begin repurchasing shares in the first quarter of 2022. Additionally, the board of directors declared a quarterly cash dividend of$0.30per share of the company's common stock, representing a 20% increase compared to the company's prior quarterly cash dividend. The dividend will be payable onFeb. 15, 2022to stockholders of record onFeb. 1, 2022.
Ally Financial is a digital-financial services and financial holding company. Through its subsidiaries, Co. provides a range of financial services and insurance products to automotive dealerships and consumers. Co.'s digital direct bank provides mortgage lending, point-of-sale personal lending, and a variety of deposit and other banking products, including savings, money-market, and checking accounts, certificate of deposits, and individual retirement accounts. Additionally, Co. provides securities-brokerage and investment-advisory services through Ally Invest. Co.'s corporate-finance business provides capital for equity sponsors and middle-market companies.
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Strong Buy (3.55 out of 4)