Quarterly report [Sections 13 or 15(d)]

STOCKHOLDERS' EQUITY

v3.25.1
STOCKHOLDERS' EQUITY
 3 Months Ended
Mar. 31, 2025
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY
NOTE 11—STOCKHOLDERS' EQUITY
Common Stock Dividends
The Company declared and paid $31.0 million in dividends during the three months ended March 31, 2025 and paid $30.7 million in dividends during the year ended December 31, 2024.
In conjunction with the payment of Guild's dividends, Guild issued 34,907 dividend equivalent units (“DEUs”) to holders of restricted stock units (“RSUs”) during the three months ended March 31, 2025 and issued 59,330 DEUs during the year ended December 31, 2024. Since the DEUs are forfeitable, the value of the DEUs was recorded as a reduction to retained earnings and an increase to additional paid-in capital.
Share Repurchase Program
On May 5, 2022, the Company’s Board of Directors authorized the Company to repurchase up to $20.0 million of the Company’s outstanding Class A common stock over the following 24 months from such date. On March 7, 2024, our Board of Directors extended the share repurchase program to May 5, 2025 and on March 5, 2025, the share repurchase program was extended to May 5, 2026. The share repurchase program allows the Company to repurchase shares of its Class A common stock from time to time on the open market or in privately negotiated transactions. The Company is not obligated to purchase any shares under the share repurchase program and the timing of any repurchases will depend on a number of factors, including, but not limited to, stock price, trading volume, market conditions, and other general business considerations. The share repurchase program may be modified, suspended or terminated by the Company’s Board of Directors at any time. The Company intends to fund any repurchases under the share repurchase program with cash on hand. During the three months ended March 31, 2025, the Company repurchased and subsequently retired 35,216 shares of its Class A common stock for $0.5 million at an average price of $12.94 per share, excluding commissions. During the three months ended March 31, 2024 the Company repurchased and subsequently retired 17,747 shares of its Class A common stock for $0.3 million at an average price of $14.16 per share, excluding commissions. As of March 31, 2025, $9.5 million remains available for repurchase.