StoneCo Ltd. (“Stone” or “the Company”) announced that its Board of Directors, pursuant to written resolutions dated November 21st, 2024, has authorized a share repurchase program, under which Stone may repurchase up to R$ 2 billion in outstanding Class A common shares. The program approved does not have a fixed expiration date.
This new stock repurchase program replaces the previous stock repurchase program announced by Stone on November 14th, 2023. Under the former program, Stone repurchased a total of 13,202,939 shares at an average price of US$ 13.52 per stock, totaling US$ 178.3 million.
“We are pleased to announce the completion of our previous R$1 billion stock repurchase program, underscoring our robust financial position. As part of our ongoing commitment to maximizing shareholder returns, we continuously evaluate the most effective use of our resources. Confident in our long-term vision, we have approved a new buyback program to seize the current market opportunities. Furthermore, we are finalizing a structured framework to guide our capital allocation strategy, which will enhance transparency and align with our strategic priorities once shared with the market,” said Pedro Zinner, CEO.
The stock repurchases may be made from time to time through open market transactions, block trades, privately negotiated transactions, or otherwise and are subject to market and business conditions, levels of available liquidity, cash requirements for other purposes, regulatory, and other relevant factors.
