PROG Holdings Announces Intention to Enter into $100 Million Accelerated Share Repurchase Program
Business Wire•28/10/2026•07:25 ET
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Key Highlights
- ➤$100 million accelerated share repurchase targeted for completion in Q1 2027
- ➤Share repurchase authorization replenished to $500 million total
- ➤Repurchase program extended through October 26, 2029, or $500 million spent
- ➤PROG says balance sheet strengthened and returned to targeted net leverage range
Expert Statements
Steve Michaels, Chairman, President and CEO of PROG Holdings
“Today’s announcement reflects our continued confidence in PROG’s long-term strategy and the momentum we see across our product ecosystem. Our diversified model is performing as designed, and our consistent cash flow generation gives us the flexibility to return meaningful capital to shareholders without compromising our investments in growth.”
Steve Michaels, Chairman, President and CEO of PROG Holdings
“Our capital allocation priorities remain unchanged: reinvest in the business, pursue strategic M&A, and return excess capital to shareholders. Having strengthened our balance sheet and returned to our targeted net leverage range, we are well positioned to act on all three, beginning with our anticipated accelerated share repurchase.”
PROG Holdings Announces Intention to Enter into $100 Million Accelerated Share Repurchase Program
Board Replenishes and Extends Current Share Repurchase Program in Connection with ASR Program
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