PLANO, Texas--(BUSINESS WIRE)--Apr. 26, 2013--
Rent-A-Center, Inc. (the “Company”) (NASDAQ/NGS: RCII) today announced
that its Board of Directors has increased the authorization for stock
repurchases under the Company’s common stock repurchase plan from $1
billion to $1.25 billion. Under the Company’s common stock repurchase
plan, shares may, from time to time, be repurchased in the open market
or in privately negotiated transactions at amounts considered
appropriate by the Company. To date, the Company has repurchased a total
of 31,585,314 shares of the Company’s common stock for an aggregate
purchase price of approximately $794.8 million since the repurchase
plan’s inception. In the current year, the Company has repurchased a
total of 465,035 shares for approximately $17.4 million in cash.
Rent-A-Center, Inc., headquartered in Plano, Texas, is the largest
rent-to-own operator in North America, focused on improving the quality
of life for its customers by providing them the opportunity to obtain
ownership of high-quality, durable goods such as consumer electronics,
appliances, computers, furniture and accessories, under flexible rental
purchase agreements with no long-term obligation. The Company owns and
operates approximately 3,111 stores in the United States, Canada, Mexico
and Puerto Rico, and approximately 1,053 RAC Acceptance kiosk locations
in the United States and Puerto Rico. ColorTyme, Inc., a wholly owned
subsidiary of the Company, is a national franchiser of approximately 224
rent-to-own stores operating under the trade name of “ColorTyme.” For
additional information about the Company, please visit www.rentacenter.com.
Source: Rent-A-Center, Inc.
Rent-A-Center, Inc.
David E. Carpenter, 972-801-1214
Vice
President of Investor Relations
david.carpenter@rentacenter.com