Fort Worth, Texas Payday LoansFort Worth, Texas – Cash America has reported it’s third quarter earnings which are up 25% due to increased consumer loans and pawn shop operations.

This translates into a 3.5 cents dividend for shareholders. Cash America reported $34.8 million in earnings for the third quarter of this year – $1.08 per share. These latest earnings are up from 90 cents for this period last year when earning were $27.9 million. Cash America said dividends will be paid on Nov. 16 to shareholders of record as of Nov. 2.

These lastest earning matched expectations of analysts with total revenue up 21% to $387.9 million from $319.4 million. There was a 22% increase in earnings from consumer payday loans fees dues to a higher number of loans in foreign markets, pawn related revenue gained 21 percent, with consolidated pawn loan balances up 25 percent.

Bloomberg Businessweek has also reports a spin- off of the online operation:

Last month the Fort Worth, Texas company said that it plans to spin off online financial services subsidiary Enova International Inc. in a public offering.

Cash America had 1,083 locations at quarter’s end that offered specialty financial services to consumers, which include 782 lending locations operating in 23 states in the U.S. under the names Cash America Pawn, SuperPawn, Maxit, Pawn X-Change, Cash America Payday Advance and Cashland, and 186 pawn lending locations, of which the company is a majority owner, operating in central and southern Mexico under the name Prenda Facil.

 

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Filed under: Financial News • Texas Payday Loans

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