Cash America International, Inc. (NYSE: CSH) announced today that its board of directors, at its regularly scheduled meeting, authorized the repurchase of up to 4.0 million shares of the Company's outstanding common stock, par value $0.10 per share. The share repurchase authorization does not have an expiration date, and the amount and prices paid for any future share purchases under the new authorization will be based on market conditions and other factors at the time of the purchase. Repurchases under the share repurchase program will be made through open market purchases or private transactions, in accordance with applicable federal securities laws. This new authorization cancels and replaces a previous authorization to purchase up to 2.5 million shares of common stock, under which approximately 41% of the authorized shares had been repurchased as of December 31, 2014. Repurchased shares will be held as treasury stock for general corporate purposes. As of December 31, 2014, there were approximately 29 million shares of Cash America common stock issued and outstanding; therefore, the new authorization represents approximately 14% of the currently issued and outstanding shares of common stock. In a separate release today, the Company also announced that its board of directors increased the quarterly cash dividend to 5 cents per share from 3.5 cents per share. The dividend will be payable on February 25, 2015 to shareholders of record on February 11, 2015. See the separate press release for additional details. About the Company As of December 31, 2014 Cash America International, Inc. (the "Company") operated 943 total locations offering specialty financial services to consumers, which included the following:
- 859 lending locations in 21 states in the United States primarily under the names "Cash America Pawn," "SuperPawn," "Cash America Payday Advance," and "Cashland;" and
- 84 check cashing centers (all of which are unconsolidated franchised check cashing centers) operating in 12 states in the United States under the name "Mr. Payroll."