JACKSONVILLE, Florida, 1st August 2024 - Fidelity National Financial, Inc. (NYSE: FNF), has announced a new three-year share repurchase programme, approved by its Board of Directors, effective from 31st July 2024. This programme authorises the company to buy back up to 25 million shares of its common stock.
The repurchases can be made on the open market at prevailing prices or through privately negotiated transactions. The programme is set to run until 31st July 2027.
This new programme follows the successful completion of a previous three-year repurchase plan, which expired on 31st July 2024, during which the company repurchased 16.4 million shares of its common stock.
About Fidelity National Financial, Inc.
Fidelity National Financial, Inc. (NYSE: FNF) is a leading provider of title insurance and transaction services in the real estate and mortgage sectors. It is also a significant player in the insurance market, serving retail annuity and life customers and institutional clients through its majority-owned subsidiary F&G Annuities & Life, Inc. (NYSE: FG).
Through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title and National Title of New York - FNF is the largest title insurance company in the United States, issuing more policies than any other competitor.
Further information about FNF can be found on its website: www.fnf.com
Forward-Looking Statements and Risk Factors
This press release includes forward-looking statements, which are subject to various risks and uncertainties. These statements, including those related to expectations, hopes, intentions or future strategies, are based on current management beliefs and information. As such statements are based on future financial and operating results, actual outcomes may differ significantly from those projected.
FNF undertakes no obligation to update any forward-looking statements, regardless of new information, future events or any other factor.
Factors that could lead to material differences between actual results and those projected include:
Changes in general economic, business, political, war or pandemic conditions, including ongoing geopolitical conflicts.
Weakness or adverse changes in real estate activity, which can be influenced by factors such as high or increasing interest rates, limited mortgage funding availability, or a weak US economy.
The company's potential inability to identify suitable acquisition candidates.
Dependence on distributions from its title insurance underwriters as a primary source of cash flow.
Significant competition faced by F&G and the company's operating subsidiaries.
Compliance with extensive government regulation of operating subsidiaries, including regulations governing title insurance and services, as well as privacy and data protection laws.
System damage, failures, interruptions, cyberattacks, intrusions, or unauthorised data disclosures.
Other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of FNF's Form 10-K and other filings with the Securities and Exchange Commission.
FNF-G
SOURCE: Fidelity National Financial, Inc.
View original content: https://www.prnewswire.com/news-releases/fidelity-national-financial-announces-new-three-year-25-million-share-repurchase-program-302211565.html