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Nicholas Financial board authorizes share repurchase program

Nicholas Financial Inc.'s board authorized the company to repurchase up to $8.0 million of its common shares.

The timing and actual number of shares repurchased will be determined considering the stock price, corporate and regulatory requirements, and other market and economic conditions, among other factors.

For the quarter ended March 31, 2019, the company reported a net loss of $4.7 million, or a loss of 60 cents per share, compared to a net income of $644,000, or 8 cents per share, in the prior-year period.