William C. Zint, the Senior Vice President and Chief Financial Officer of Deluxe Corp (NYSE:DLX), recently acquired shares of the company. According to a regulatory filing, Zint purchased 120 shares of Deluxe Corp common stock on December 11, 2024, at a price of $23.79 per share. The stock, which has delivered a strong return of nearly 35% over the past year according to InvestingPro data, currently appears slightly undervalued based on Fair Value analysis. The total transaction amounted to $2,854. This purchase was made under a pre-arranged 10b5-1(c) trading plan that Zint adopted on December 11, 2023. Following this transaction, Zint's direct ownership in the company increased to 11,704 shares. The insider purchase comes as Deluxe maintains impressive gross profit margins of 54% and offers a significant 5% dividend yield to shareholders. For deeper insights into Deluxe Corp's financial health and additional analysis, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks.
In other recent news, Deluxe Corporation has increased its offering of senior secured notes from $400 million to $450 million, due in 2029. The raised funds, along with borrowings under new senior secured credit facilities, are set to refinance existing credit facilities. 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. The notes are being offered in a private placement to qualified institutional buyers and persons outside the United States.
In other recent developments, Deluxe Corporation announced its third-quarter earnings for 2024. The earnings call, attended by Vice President of Strategy and Investor Relations Brian Anderson, President and CEO Barry McCarthy, and CFO Chip Zint, discussed non-GAAP financial measures and forward-looking statements.
These developments demonstrate Deluxe's commitment to strategic planning and transparency. 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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