Adds $2 Million to Existing Class B Common Stock Repurchase Authorization;
Announces Quarterly Dividend Payment Details
NEW YORK, NY / ACCESS Newswire / June 8, 2026 / Zedge, Inc. (NYSE American:ZDGE), $ZDGE, a company that builds and operates creator communities serving 20 million monthly active users, today announced its Board of Directors approved a $2.0 million increase to the existing share repurchase authorization for its Class B common stock. This new authorization adds to the previously approved $5.0 million share repurchase authorization, under which the Company has bought back almost 1.5 million shares of its class B common stock for approximately $4.8 million as of June 4, 2026. The Board of Directors also approved payment of the Company's $0.02 quarterly dividend.
Jonathan Reich, Zedge's CEO commented:
"Having substantially completed our prior $5.0 million share repurchase program, our Board has authorized a $2.0 million increase to the prior authorization, reflecting our continued belief that our shares are undervalued and represent an attractive use of capital and our ongoing commitment to returning capital to shareholders through multiple channels. Zedge generates consistent free cash flow, is debt-free and that balance sheet strength is precisely what gives us the flexibility to execute a multifaceted capital return strategy. Earlier this fiscal year we initiated our first-ever dividend and just recently raised it 25%, and today's repurchase authorization is the next expression of that same discipline. What I want shareholders to understand is that none of this comes at the expense of growth. We are actively investing in DataSeeds, our Product Innovation Team and the broader Zedge platform, and we are funding all of it from cash flow without touching the balance sheet."
Dividend Details:
Quarterly Dividend Amount: $0.02 per share of class B common stock, representing an annualized dividend of $0.08 per share;
Record Date: June 22, 2026;
Payment Date: June 30, 2026.
Purchases under the program will be made from time to time, as permitted by securities laws and through, at the Company's discretion, open market purchases, privately negotiated transactions, or other paths. The Company will determine the timing, manner, price and amount of any repurchases subject to economic and market conditions, stock price, applicable legal requirements and other factors. In furtherance of the buyback, the Company plans to enter into a "Rule 10b5-1 plan" to allow for continuous repurchases of its Class B common stock regardless of the Company's trading window restrictions.
About Zedge
Zedge builds and operates creator communities that serve 20 million monthly active users across its platforms. Zedge Marketplace, our flagship platform, is a leading marketplace for mobile personalization content that powers a vibrant creator ecosystem including a full generative AI creation suite. DataSeeds.AI is our B2B business, delivering managed, multimodal datasets that are ethically sourced, rights-cleared, built to spec and delivered at scale to frontier AI developers. The content foundation for DataSeeds.AI is supplied by Zedge's proprietary creator communities, including Zedge Marketplace contributors and photo competition community GuruShots, the world's most popular photo competition game, which is supplemented by crowdsourced content. For more information, visit: investor.zedge.net
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Forward-Looking Statements
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate," "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, we assume no obligation to update any forward-looking statements.
Contact:
Brian Siegel, IRC, MBA
Senior Managing Director
Hayden IR
(346) 396-8696
brian@haydenir.com
ir@zedge.net
SOURCE: Zedge, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/computers-technology-and-internet/zedge-provides-shareholder-update-on-capital-return-initiatives-1173832
