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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 (HRB) celebrates Women’s Equality Day by joining the Catalyst CEO Champions for Change pledge, aiming for increased representation of women in senior leadership and board roles over five years. The pledge commits to improving inclusion metrics, enhancing the pipeline for women, and sharing progress data with Catalyst. Currently, 36% of H&R Block’s leaders and 40% of its board are women, which outperforms the S&P 500. This initiative aligns with H&R Block’s Equality Action Plan, reinforcing its commitment to diversity and inclusion.
H&R Block (NYSE: HRB) has declared a quarterly cash dividend of 26 cents per share, payable on October 1, 2020, to shareholders on record as of September 11, 2020. This dividend reflects the company’s ongoing commitment to returning value to its shareholders, as H&R Block has consistently paid dividends since going public in 1962. The announcement highlights the company's strong financial position and dedication to its investor community.
H&R Block (NYSE: HRB) announced preliminary results for the 2020 U.S. tax season. The company prepared 21.2 million tax returns, a 3.3% increase from the prior year, driven by a 10.6% rise in DIY online filings (6.7 million). However, Assisted filings decreased by 2.8% to 11.5 million due to operational challenges posed by the COVID-19 pandemic. CEO Jeff Jones highlighted the strong DIY growth and positive client feedback, noting the firm's adaptability and resilience during these unprecedented times. The company plans to share further insights during its fiscal 2021 first quarter earnings call on September 1.
H&R Block (NYSE: HRB) has appointed Lindsey Lanzisero as Vice President of Total Rewards to enhance its global compensation and benefits strategy. With 15 years of experience, including significant roles at PepsiCo, Lanzisero aims to improve the company’s ability to attract and retain talent. She will oversee the design and execution of rewards programs, ensuring alignment with organizational goals and compliance. This strategic move underscores H&R Block's commitment to driving employee satisfaction and operational efficiency.
H&R Block (NYSE: HRB) reported fiscal 2020 results impacted by the COVID-19 pandemic, revealing a 14.7% revenue decline to $2.6 billion and a net income drop to $6 million, down from $445 million in fiscal 2019. The EPS fell to $0.03 from $2.15, and the company recognized a $106 million goodwill impairment for Wave. Despite these challenges, H&R Block declared a quarterly dividend of $0.26 per share and ended the fiscal year with $2.7 billion in cash. A further update on tax season results is expected during the fiscal 2021 Q1 earnings call.
Wave Financial has unveiled Wave Money, a revolutionary banking and bookkeeping solution aimed at small business owners. This platform eliminates banking fees and provides automatic bookkeeping, allowing users to access their funds instantly. Small businesses often incur over $425 in annual bank fees, which Wave Money addresses by introducing fee-free accounts with no minimum balance requirements. Key features include real-time bookkeeping, mobile check deposits, and access to a wide ATM network. With these offerings, business owners can streamline financial management and focus on core operations.
H&R Block (NYSE: HRB) will release its fiscal 2020 results on June 16, 2020, after the NYSE market closes. This will be followed by a conference call at 4:30 p.m. ET to discuss the results and future outlook. Investors can access the call by dialing U.S./Canada (866) 987-6821 or International (630) 652-5951. An online webcast will also be available on the company's investor relations website. A replay of the call will be accessible for seven days post-event. H&R Block focuses on tax preparation, financial services, and small business solutions.
H&R Block (NYSE: HRB) has launched a new Recovery Action Plan service, aimed at assisting small businesses in navigating CARES Act relief options amid COVID-19 challenges. The service includes a one-on-one consultation for $99, where owners can learn about eligible loan programs, tax credits, and receive a customized action plan. Additional services include a free Second Look® review of prior tax returns and a discount on 2019 tax preparation fees. This initiative supports H&R Block’s commitment to helping small businesses recover and thrive.
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