StoneX Group Inc (NASDAQ:SNEX), the company which owns retail FX brands such as Forex.com and City Index, has announced plans for share repurchases for its fiscal year 2022.
A document filed with the Securities and Exchange Commission (SEC) reveals that on August 25, 2021, the Board of Directors of StoneX Group Inc authorized for fiscal year 2022 the repurchase of up to 1.0 million shares of its outstanding common stock from time to time in open market purchases and private transactions, commencing on October 1, 2021 and ending on September 30, 2022.
The share repurchases are subject to the discretion of the senior management team to implement the Company’s stock repurchase plan, and subject to market conditions and as permitted by securities laws and other legal, regulatory and contractual requirements and covenants.
Let’s recall that, on December 16, 2020, StoneX’s Board of Directors authorized the repurchase of up to 1.0 million shares of its outstanding common stock from time to time in open market purchases and private transactions, commencing on December 23, 2020 and ending on September 30, 2021.
StoneX’s common stock repurchase program activity for the three months ended June 30, 2021 was as follows:
