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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) is offering free Mid-Year Care Check-Ins to help taxpayers maximize refunds and avoid surprises for the next tax season. This initiative comes as IRS data shows that while average refunds increased in 2024, fewer people received them. The company provides a free W-4 calculator tool to help filers adjust withholdings and account for side income.
A recent survey revealed that 81% of consumers prioritize maximizing take-home pay through tax withholding optimization, but only 28% feel they have adequate support. H&R Block emphasizes the importance of reassessing tax situations mid-year, especially after life changes like buying a home or changing jobs. The company also highlights the benefits of mid-year check-ins for small business owners and gig workers, including planning for tax reductions and ensuring compliance with new regulations.
On July 9, 2024, Block Advisors by H&R Block announced the winners of the 'Fund Her Future' grant program, awarding $100,000 in grants and a year of advisory services to five women-owned small businesses. Heather Jiang of Allégorie secured the grand prize of $50,000 for her sustainable fashion company. Other winners include Erica Cole of No Limbits, Ashley Ugarte of Hijita, Addie Gundry of Pluie, and Ameka Coleman of Strands of Faith, each receiving $12,500. The program aims to promote diverse women entrepreneurs and drive positive change.
H&R Block (NYSE: HRB) announced that CFO Tony Bowen and VP of Investor Relations, ESG, & Productivity Michaella Gallina will participate in the Oppenheimer 24th Annual Consumer Growth and E-Commerce Conference. They will host virtual investor meetings on June 12, 2024. Interested parties can schedule a meeting through their Oppenheimer salesperson.
Spruce, a mobile banking app built by H&R Block, now offers a high-yield interest rate of 3.50% APY on savings accounts, seven times the national average. This addition aims to help customers reach their savings goals faster, providing a transparent mobile banking experience with no monthly fees or minimum balance requirements. Customers can enjoy compounding interest, personalized saving goals, budget trackers, and cash back rewards, all while benefitting from fee transparency and courtesy overdraft coverage.
H&R Block reported positive fiscal 2024 third-quarter results with revenue growth of 4%, net income growth of 7%, and earnings per share growth of 18%. The company expects to be near the high end of its fiscal year 2024 outlook. Key financial metrics show total revenue increased by 4% to $2.2 billion, while total operating expenses increased primarily due to higher field wages. Capital allocation included a quarterly cash dividend of $0.32 per share and $350 million share repurchases. The company has returned over $3.8 billion to shareholders since 2016.
H&R Block, Inc. (NYSE: HRB) will participate in the 18th Annual Barrington Research Virtual Spring Investment Conference with key executives hosting virtual investor meetings. The event is scheduled for Thursday, May 16, 2024. Investors can request a meeting through their Barrington Research salesperson.
H&R Block, Inc. announces a quarterly cash dividend of $0.32 per share, payable on July 3, 2024, to shareholders of record as of June 5, 2024. The Company has a strong dividend history, consistently paying dividends for over sixty years since going public in 1962. Additionally, there has been a significant growth in dividends and a return of over $3.8 billion to shareholders since 2016.
Block Advisors by H&R Block has launched the 'Fund Her Future' grant program to support women-owned small businesses, offering five winners a total of $100,000 in grants and access to Block Advisors services. The initiative aims to address funding disparities and provide support to women entrepreneurs. The program is open for submissions until May 26, 2024, with eligibility criteria outlined on the grant website.
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