Summary by Moomoo AI
On November 21, 2024, StoneCo announced a new share repurchase program authorized by its Board of Directors, allowing the company to buy back up to R$2 billion in Class A common shares. This program replaces the previous one, under which StoneCo repurchased 13,202,939 shares at an average price of US$13.52, totaling US$178.3 million.CEO Pedro Zinner emphasized the company's strong financial position and commitment to maximizing shareholder returns. The new buyback program aims to capitalize on current market opportunities and is part of a broader capital allocation strategy to enhance transparency and align with strategic priorities.Repurchases will occur through various transaction methods, subject to market conditions, liquidity, and regulatory factors.
