STOCKHOLDERS' EQUITY |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Stockholders' Equity Note [Abstract] | |
| STOCKHOLDERS' EQUITY | STOCKHOLDERS' EQUITY Common Stock Dividends
The Company declared and paid $31.0 million in dividends during the six months ended June 30, 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 grants during the six months ended June 30, 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. On June 18, 2025, the plan terminated in connection with the Merger Agreement by and among the Company, the Parent, and the Merger Sub. The share repurchase program allowed the Company to repurchase shares of its Class A common stock from time to time on the open market or in privately negotiated transactions, subject to Rule 10b5-1 and Rule 10b-18. The Company was not obligated to purchase any shares under the share repurchase program and the timing of any repurchases depended 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 could have been modified, suspended or terminated by the Company’s Board of Directors at any time. The Company has funded any repurchases under the share repurchase program with cash on hand. During the three and six months ended June 30, 2025, the Company repurchased and subsequently retired 61,221 and 96,437 shares of its Class A common stock for $0.8 million and $1.3 million at an average price of $13.24 per share and $13.13 per share, excluding commissions, respectively. During the three and six months ended June 30, 2024 the Company repurchased and subsequently retired 14,221 and 31,968 shares of its Class A common stock for $0.2 million and $0.5 million at an average price of $14.09 per share and $14.13 per share, excluding commissions, respectively.
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