MINNEAPOLIS—Barry C. McCarthy, the President and CEO of Deluxe Corp (NYSE:DLX), a $1 billion market cap company that has delivered a strong 34% return over the past year, recently acquired 2,290 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The purchase, executed under a pre-arranged trading plan, amounted to approximately $53,975, with shares bought at a weighted average price of $23.57. This transaction was part of a 10b5-1 plan adopted by McCarthy in December 2023. Following this acquisition, McCarthy holds a total of 180,960 shares directly in the company, which boasts a 5.14% dividend yield and has maintained dividend payments for 54 consecutive years. According to InvestingPro, which offers comprehensive analysis of 1,400+ stocks including Deluxe Corp, the stock is currently trading near its Fair Value.
In other recent news, Deluxe Corporation increased its offering of senior secured notes from $400 million to $450 million, due in 2029. The proceeds from this offering, along with borrowings under new senior secured credit facilities, are planned for refinancing existing credit agreements. Deluxe's new credit agreement includes a revolving credit facility of $400 million and a term A loan facility of $500 million, both maturing in 2029.
In other recent developments, Deluxe Corporation reported its third-quarter earnings for 2024. The earnings call discussed non-GAAP financial measures and forward-looking statements, with the management team expressing confidence in the company's strategy and future performance metrics. However, they acknowledged that actual results may vary due to certain factors.
These developments indicate Deluxe's commitment to transparency and strategic planning. However, the offering of notes is contingent upon the successful closing of the credit facilities amendment and restatement. The notes cannot be offered or sold within the United States without registration or an applicable exemption from these requirements.
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