ATLANTA – The board of directors for lease-purchase specialist The Aaron’s Company Inc. has authorized a $150 million share repurchase program for the company’s outstanding stock.

This program expires on Dec. 31, 2023, according to a filing with the U.S. Securities and Exchange Commission.

The company also said its board approved a cash dividend of 10 cents per share on the company’s common stock, the first dividend declared by the board since the company’s spin-off from its former parent Nov. 30, 2020.

Payable on April 6 to shareholders of record at the close of business on March 18, it represents an annual dividend yield of about 1.8% based on the closing price of the company’s common stock on March 2.

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