Ally Announces Non-Objection to 2018 Capital Plan
Ally Announces Non-Objection to 2018 Capital Plan Capital Plan Includes $1.0 Billion of Share Repurchases and Proposed Quarterly Dividend Increase |
[28-June-2018] |
DETROIT, June 28, 2018 /PRNewswire/ -- Ally Financial Inc. (NYSE: ALLY) today announced that the Federal Reserve did not object to the company's capital plan as part of the Comprehensive Capital Analysis and Review. Ally's capital plan includes the following actions:
"We are very pleased to receive the Federal Reserve's non-objection to our capital plan," said Ally Chief Executive Officer Jeffrey J. Brown. "The increases to both our share repurchase program and common stock dividend demonstrate the strength of our risk management and capital planning processes and reflect our commitment to prudently deploy capital to generate long-term value for our stockholders." Shares acquired under the repurchase program are expected to be used for general corporate purposes and may be available for resale, including in connection with the company's compensation and employee-benefit plans. The repurchase program enables the company to acquire shares through open market purchases or privately negotiated transactions, including through a Rule 10b5-1 plan, at the discretion of the company's management and on terms (including quantity, timing, and price) that the company's management determines to be necessary, appropriate, or advisable. About Ally Financial Inc. For more information and disclosures about Ally, visit https://www.ally.com/#disclosures. Contacts: Sari Jensen View original content:http://www.prnewswire.com/news-releases/ally-announces-non-objection-to-2018-capital-plan-300674370.html SOURCE Ally Financial | ||
Company Codes: NYSE:ALLY |
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