Ally Financial Inc 8-K, filed Jul 13, 2021
Ally Financial Inc. (ALLY)
8-K
2021-07-13
For: 2021-07-13
View Original
Added on
April 09, 2026
About this 8-K
Ally Financial Inc filed this 8-K on July 13, 2021.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
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)
Commission file number: 1-3754
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of | (I.R.S. Employer | |||||||
| incorporation or organization) | Identification No.) | |||||||
(Address of principal executive offices)
(Zip Code)
(866 ) 710-4623
(Registrant's telephone number, including area code)
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 (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company 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 7.01 Regulation FD Disclosure.
A copy of a press release announcing an increase to the share-repurchase authorization and dividend declaration described under Item 8.01 below is attached as Exhibit 99.1.
The information included within Exhibit 99.1 is being furnished and is not deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section.
Item 8.01 Other Events.
On July 12, 2021, the Ally Financial Inc. (Ally) board of directors authorized the repurchase of up to $2.0 billion of Ally’s common stock for 2021. This share repurchase program replaces the $1.6 billion authorization previously announced on January 12, 2021.
The repurchase program enables Ally to acquire shares through open market purchases or privately negotiated transactions, including through a Rule 10b5-1 plan, at the discretion of management and on terms (including quantity, timing, and price) that management determines to be advisable. Actions in connection with the repurchase program will be subject to various factors, including Ally’s capital and liquidity positions, accounting and regulatory considerations (including any restrictions that may be imposed by the Federal Reserve), Ally’s financial and operational performance, alternative uses of capital, the trading price of Ally’s common stock, and general market conditions. The repurchase program does not obligate Ally to acquire a specific dollar amount or number of shares and may be extended, modified, or discontinued at any time.
Additionally, the Ally board of directors declared a quarterly cash dividend of $0.25 per share of the company's common stock, payable on August 16, 2021 to stockholders of record on August 2, 2021.
Item 9.01 Exhibits.
Exhibit No. | Description of Exhibits | ||||
| 99.1 | |||||
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL | ||||
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.
Ally Financial Inc. (Registrant) | ||||||||||||||||||||
| Dated: | July 13, 2021 | /S/ DAVID J. DEBRUNNER | ||||||||||||||||||
| David J. DeBrunner | ||||||||||||||||||||
| Chief Accounting Officer and Corporate Controller | ||||||||||||||||||||
Exhibit 99.1
Ally announces 25% increase to 2021 share repurchase authorization and 32% increase to common dividend
CHARLOTTE, N.C., July 13, 2021 -- Ally Financial Inc. (NYSE: ALLY) today announced that its board of directors has authorized the company to repurchase up to $2.0 billion of the company’s common stock for 2021. This share repurchase program replaces the $1.6 billion authorization previously announced on Jan. 12, 2021. Additionally, the board of directors declared a quarterly cash dividend of $0.25 per share of the company's common stock, payable on Aug. 16, 2021, to stockholders of record on Aug. 2, 2021, representing a 32% per share increase relative to the company’s prior quarterly cash dividend and the sixth increase since Ally began paying common dividends in 2016.
“The strength of our businesses and resiliency of our balance sheet, including our robust capital position, support our ability to meaningfully increase our common dividend and share repurchase program,” said Ally Chief Executive Officer Jeffrey J. Brown. “Our capital deployment priorities remain centered around investing in growth opportunities across our businesses, aimed at delivering innovative and differentiated products for our customers while prudently returning excess capital to our shareholders. This approach has consistently driven value for all of our stakeholders and remains a cornerstone of our long-term strategy.”
The repurchase program enables Ally to acquire shares through open market purchases or privately negotiated transactions, including through a Rule 10b5-1 plan, at the discretion of management and on terms (including quantity, timing, and price) that management determines to be advisable. Actions in connection with the repurchase program will be subject to various factors, including Ally's capital and liquidity positions, accounting and regulatory considerations (including any restrictions that may be imposed by the Federal Reserve), Ally's financial and operational performance, alternative uses of capital, the trading price of Ally's common stock, and general market conditions. The repurchase program does not obligate Ally to acquire a specific dollar amount or number of shares and may be extended, modified, or discontinued at any time.
About Ally Financial
Ally Financial Inc. (NYSE: ALLY) is a digital financial services company committed to its promise to "Do It Right" for its consumer, commercial and corporate customers. Ally is composed of an industry-leading independent auto finance and insurance operation, an award-winning digital direct bank (Ally Bank, Member FDIC and Equal Housing Lender, which offers mortgage lending, point-of-sale personal lending, and a variety of deposit and other banking products), a corporate finance business for equity sponsors and middle-market companies, and securities brokerage and investment advisory services. A relentless ally for all things money, Ally helps people save well and earn well, so they can spend for what matters. For more information, please visit www.ally.com and follow @allyfinancial.
For more information and disclosures about Ally, visit https://www.ally.com/#disclosures.
For further images and news on Ally, please visit http://media.ally.com.
Contacts: | ||
| Daniel Eller | ||
| Ally Investor Relations | ||
| 704-444-5216 | ||
| Daniel.Eller@ally.com | ||
| Jillian Palash | ||
| Ally Communications (Media) | ||
| 704-644-6201 | ||
| Jillian.Palash@ally.com | ||