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H&R Block, Inc. reports developments across its tax preparation, financial products, and small-business services business. Recurring updates cover assisted tax preparation, digital do-it-yourself filing, AI-enabled tax tools, changes in tax rules affecting filers, and seasonal operating results across U.S. assisted, DIY, international, Refund Transfer, and Wave activity.
The company also issues updates on capital allocation, including quarterly dividends and share repurchases, and on products tied to year-round money management and small-business support. Its brands and platforms include Spruce, Block Advisors, and Wave, which provide mobile banking, bookkeeping, payroll, advisory, and payment-processing services alongside the company’s core tax offerings.
H&R Block (NYSE: HRB) announces the retirement of Tom Gerke as General Counsel and Chief Administrative Officer after 10 years of service. He played a key role in significant business transitions, including the wind-down of the subprime mortgage subsidiary. Dara Redler will replace him as Chief Legal Officer, bringing extensive experience from her tenure at Tilray and Coca-Cola. The leadership change is seen as pivotal for ongoing strategic transformations within the company.
H&R Block has announced its 'Franchisees of the Year' for 2022, recognizing three exceptional franchisees: Amanda Rhoton, Enrique Enriquez, and Dan Dever with Nikki Sunstedt. These franchisees distinguished themselves through superior customer experience and community involvement. Rhoton achieved high client retention and growth, Enriquez excelled in service quality during the pandemic, and Dever with Sunstedt managed 10 offices across California, providing valuable tax education to the community. Each honoree received awards for their outstanding contributions.
H&R Block (NYSE: HRB) announced the appointment of Tom Gannon as Vice President and Chief Government Relations Officer and the promotion of Nicki Cole to Vice President, Technology, Small Business and Financial Services. Gannon will manage government relations and lobbying efforts, while Cole will focus on technology growth in small business sectors. Both executives are expected to drive the company’s transformation and product innovation as it adapts to client needs.
H&R Block (NYSE: HRB) has filed a lawsuit against Block, Inc. to protect its trademarks following Block, Inc.'s rebranding from Square, Inc. The lawsuit aims to prevent consumer confusion as both companies operate in the financial services sector, including tax preparation. H&R Block argues that Block, Inc.'s actions undermine the brand equity and consumer trust it has built over 65 years. The complaint was submitted to the U.S. District Court for the Western District of Missouri and is essential for safeguarding H&R Block's reputation.
H&R Block (NYSE: HRB) released a report titled Insights on American Perseverance, highlighting resilience during the COVID-19 pandemic, informed by 12 million hours of conversations with clients. Key findings include a significant increase in small businesses, particularly among younger Americans, and a surge in stock market participation among Millennials and Gen Z, with a 4.5x and 2x rise respectively. The report also notes that 13% more teenagers and 20-somethings filed taxes independently to access stimulus payments. Consumer spending shifted toward necessities, with Amazon purchases soaring by 82% in 2020.
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H&R Block, Inc. (NYSE: HRB) announced a quarterly cash dividend of 27 cents per share, payable on January 3, 2022, to shareholders of record by December 6, 2021. This marks the continuation of its dividend payments since 1962. Since 2016, H&R Block has increased its dividend by 35% and has returned over $2 billion to shareholders through dividends and share repurchases. The company is recognized for its tax preparation services and small business solutions, ensuring clients achieve optimal outcomes at tax time.
H&R Block (NYSE: HRB) has secured a new five-year employment agreement with CEO Jeff Jones, extending his leadership until November 4, 2026. The Board of Directors highlights Jones' transformative impact on the company, particularly his role in modernizing tax services and expanding offerings for small businesses. Under his guidance, H&R Block achieved its best tax season in over a decade. The company is committed to driving growth through its Block Horizons 2025 strategy, focusing on innovation and community support.
H&R Block (NYSE: HRB) announced the appointment of four new vice presidents to support its growth strategy, Block Horizons 2025. John Thompson joins as Financial Services VP, overseeing product development, while Charlene Wilson and Kate O’Connor assume leadership roles in People and Culture for Global Consumer Tax and Strategy/Small Business, respectively. Erin Turley has been promoted to VP of International and Integrated Delivery, leading teams across Canada, Australia, and India. This executive reorganization aims to enhance service delivery and financial product offerings.
H&R Block (NYSE: HRB) reported its fiscal 2022 first quarter results for the period ending September 30, 2021. Total revenue fell by 54% to $193 million, attributed to reduced return volume following the previous year’s extended tax season. Operating expenses decreased by 12% to $367 million, mainly due to lower pro compensation. The company experienced a pretax loss of $197 million, with loss per share increasing to $0.84. H&R Block repurchased $166 million in shares, reflecting its commitment to shareholder value amidst challenges.