UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 14, 2021
JACK HENRY & ASSOCIATES, INC.
(Exact name of Registrant as specified in its Charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of Principle Executive Offices) (Zip Code)
(Registrant’s telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Ticker symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On May 14, 2021, the Board of Directors of Jack Henry & Associates, Inc. approved an addition of five million shares to its existing stock repurchase authorization. A copy of the press release announcing the increase is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
Exhibits
Exhibit No. Description
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| JACK HENRY & ASSOCIATES, INC. | |||||||||||
| (Registrant) | |||||||||||
| Date: | May 17, 2021 | /s/ Kevin D. Williams | |||||||||
| Kevin D. Williams | |||||||||||
| Chief Financial Officer | |||||||||||
| Company: | Jack Henry & Associates, Inc. | Analyst Contact: | Vance Sherard | |||||||||||
| 663 Highway 60, P.O. Box 807 | Director Corporate Development | |||||||||||||
| Chief Financial Officer | & Investor Relations | |||||||||||||
| Monett, MO 65708 | (417) 235-6652 | |||||||||||||
JACK HENRY & ASSOCIATES ANNOUNCES REGULAR QUARTERLY DIVIDEND AND ADDS FIVE MILLION SHARES TO STOCK REPURCHASE AUTHORIZATION
MONETT, MO, May 17, 2021 — Jack Henry & Associates, Inc. (NASDAQ: JKHY) today announced its Board of Directors declared a regular quarterly cash dividend of $.46 per share. The cash dividend on its common stock, par value $.01 per share, is payable on June 14, 2021, to stockholders of record as of May 28, 2021. At May 12, 2021, there were 74,185,575 shares of the common stock outstanding.
Its Board of Directors also increased the remaining .2 million share stock repurchase authorization by another 5.0 million shares, bringing the total current authorization to 5.2 million shares. In October of 2002, the Board of Directors approved the current buyback program which has been increased incrementally since that time as shares have been repurchased. The company will finance its share repurchases with available cash reserves or short-term borrowings on its existing credit facility. All transactions will be executed in accordance with regulatory and exchange guidelines. The share repurchase program does not include specific price targets or timetables and may be suspended at any time.
Kevin D. Williams, CFO of Jack Henry & Associates, stated, “Our company continues to have strong organic growth and cash flows, even with our continued investments in our company through capital expenditures and research & development initiatives. This increase in our share repurchase authorization evidences our continued confidence that these trends will continue and our commitment to deploy our cash to the benefit of our shareholders.”
About Jack Henry & Associates, Inc.
Jack Henry (NASDAQ: JKHY) is a leading SaaS provider primarily for the financial services industry. We are a S&P 500 company that serves approximately 8,500 clients nationwide through three divisions: Jack Henry Banking® provides innovative solutions to community and regional banks; Symitar® provides industry-leading solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in cloud-based digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? Additional information is available at www.jackhenry.com.