Evertec rises after entering accelerated share repurchase agreement with BofA

Evertec

06/03/2024 18:49

** Shares of fintech company Evertec  EVTC.N  rise as much
as 4.3%; last up 2.3% at $37.76
    ** EVTC says it has entered into an accelerated share
repurchase (ASR) agreement with Bank of America  BAC.N , by
which the company will repurchase $70 mln of its common stock
    ** ASR expected to be completed by Q3 2024 - EVTC
    ** Co's board also approved an increase to its share
repurchase authorization to an aggregate $220 mln and extended
the expiration date to Dec. 31, 2025
    ** Stock rose 26.4% in 2023

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))