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StoneCo | 6-K: Report of foreign private issuer (related to financial reporting)

SEC announcement ·  Mar 19 05:01
Summary by Futu AI
StoneCo Ltd., a leading provider of financial technology solutions in Brazil, has reported significant financial activities and strategic developments for the fiscal year ending December 31, 2023. The company, which operates under the ticker STNE.US, has undergone various business combinations, share-based payment plans, and segment adjustments to bolster its market position. Notably, StoneCo's Board of Directors approved a new share repurchase program, authorizing the company to buy back up to R$ 300,000 in outstanding Class A common shares. Following this, an additional share repurchase program was approved, allowing for the repurchase of up to R$ 1 billion in Class A common shares. The company also received a license from the Brazilian Central Bank (BACEN) to operate a financial services company (SCFI), enabling it to offer a wider range of products and diversify its funding sources. StoneCo's financial services and software segments reported adjusted net incomes of R$ 1,436,634 and R$ 113,844, respectively, contributing to a consolidated net income of R$ 1,600,420 for the year.
StoneCo Ltd., a leading provider of financial technology solutions in Brazil, has reported significant financial activities and strategic developments for the fiscal year ending December 31, 2023. The company, which operates under the ticker STNE.US, has undergone various business combinations, share-based payment plans, and segment adjustments to bolster its market position. Notably, StoneCo's Board of Directors approved a new share repurchase program, authorizing the company to buy back up to R$ 300,000 in outstanding Class A common shares. Following this, an additional share repurchase program was approved, allowing for the repurchase of up to R$ 1 billion in Class A common shares. The company also received a license from the Brazilian Central Bank (BACEN) to operate a financial services company (SCFI), enabling it to offer a wider range of products and diversify its funding sources. StoneCo's financial services and software segments reported adjusted net incomes of R$ 1,436,634 and R$ 113,844, respectively, contributing to a consolidated net income of R$ 1,600,420 for the year.
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