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OneMain Holdings, Inc. reports news centered on consumer finance for nonprime customers, including personal loans, auto finance loans, credit cards, optional insurance products and digital and branch-based customer service. Company updates commonly address managed receivables, revenue and earnings trends, credit performance, operating expense, and results for its Consumer and Insurance segment.
Recurring announcements also cover quarterly earnings releases and conference calls, dividend declarations, stock repurchase activity, debt financing, balance sheet management and financial-services conference presentations. The company frames its operating updates around loan growth, underwriting discipline, customer access to credit and capital returns.
OneMain Holdings (NYSE: OMF) announced that Chairman and CEO Doug Shulman and CFO Micah Conrad will present at the Credit Suisse 23rd Annual Financial Services Forum. This event will take place at 12:10 p.m. Eastern on Thursday, February 17. The public can access the live audio webcast via the Investor Relations section of OneMain's website.
OneMain Financial specializes in providing nonprime customers with responsible credit access and operates in 1,400 locations across 44 states, focusing on enhancing financial well-being for hardworking Americans.
OneMain Financial has launched a new national credit education program for high school students called Credit Worthy, supported by a $4 million investment. This digital curriculum aims to improve financial literacy and will reach at least 1,500 schools by the end of 2022. As part of the initiative, OneMain will provide $300,000 in scholarships. The program addresses a critical gap, given that 68% of students lack understanding of credit scores, as highlighted by EVERFI's research.
OneMain Holdings, Inc. (NYSE: OMF) reported a 4Q 2021 net income of $262 million, down from $359 million in the prior year, with diluted EPS decreasing to $2.02 from $2.67. For the full year, net income rose to $1.3 billion and diluted EPS reached $9.87. The company raised its quarterly dividend by 36% to $0.95 per share and initiated a new $1.0 billion share repurchase program. Managed receivables at the end of Q4 totaled $19.6 billion, with a net charge-off ratio of 4.24%. The company emphasizes ongoing growth and strategic initiatives.
OneMain Financial announced the election of Toos N. Daruvala to its Board of Directors, effective February 14. Daruvala, a Senior Partner Emeritus at McKinsey & Company, brings extensive experience in financial services and analytics. His previous roles include leading various practices at McKinsey and serving as co-CEO of MIO Partners from 2016 to 2021. Doug Shulman, Chairman and CEO, expressed confidence that Daruvala's expertise will significantly benefit the company and its shareholders in improving financial well-being for customers.
OneMain Holdings, Inc. (NYSE: OMF) will report its fourth quarter 2021 results on February 2, 2022, after market close. The earnings release will be accessible on the company's investor relations website. A conference call to discuss the results will take place on February 3, 2022, at 8:30 a.m. Eastern, open to the public via phone and live audio webcast. OneMain is a leader in providing responsible credit access to nonprime customers through personalized solutions across 1,400 locations in 44 states.
OneMain Financial, the largest nonprime installment lender in the U.S., launched a Borrower’s Assistance program on Dec. 16 to aid customers in Kentucky affected by recent tornadoes. The program will run until Jan. 17, offering options like deferring loan payments without added fees for those eligible. The company also donated $15,000 to Feeding America’s Tornado Relief Fund and is conducting collection drives for necessities. With 36 branches in Kentucky, OneMain serves over 55,000 customers in the state, emphasizing its commitment to community support.
OneMain Holdings has increased its share repurchase authorization from $200 million to $300 million. As of December 13, 2021, the company repurchased 4.6 million shares for $186 million under the previous authorization. The company plans to discuss its future capital return strategy during the upcoming fourth quarter earnings call. The repurchase program will be determined by market conditions and funded by existing cash and future operational cash flow.
OneMain Financial has announced the election of Philip L. Bronner to its Board of Directors, effective November 8. Bronner, co-founder of Ardent Venture Partners, brings significant expertise in technology and innovation, vital for OneMain's mission to serve nonprime customers. Concurrently, directors Matthew R. Michelini and Lisa Green Hall have resigned from the board on the same date. CEO Doug Shulman expressed gratitude for their service, recognizing the board's transformation amidst ongoing challenges in the financial sector.
OneMain Holdings, Inc. (NYSE: OMF) has priced an underwritten public offering of 10,010,208 shares, representing approximately 7.6% of its outstanding stock as of October 15, 2021. The shares are being sold by an entity managed by Apollo Global Management, with no proceeds going to the Company. Closing is expected on October 28, 2021. Concurrently, OneMain will buy back 1,870,000 shares at the offering price, funded by existing cash. Barclays is the sole underwriter for this offering.
OneMain Holdings, Inc. (NYSE: OMF) has announced a proposed secondary public offering of 10,010,208 shares of its common stock, representing 7.6% of outstanding shares. The offering is managed by affiliates of Apollo Global Management, with the company not selling any shares or receiving proceeds. Concurrently, OneMain plans to repurchase up to $100 million worth of shares from the offering's proceeds, subject to market conditions. The buyback will utilize existing cash and is separate from the current repurchase program, which still has $78 million available.