25th Jul 2024 11:31
(Alliance News) - BAE Systems PLC on Thursday announced the launch of the first tranche of new share buyback programme worth up to GBP1.5 billion that it announced in August last year.
BAE Systems PLC is a London-based defence, aerospace and security company.
BAE Systems said that it has entered into arrangements with JP Morgan Securities PLC for the first tranche, which will be completed by this time next year and will be for up to GBP500 million.
BAE Systems shares were down 2.0% to 1,234.93p per share in London on Thursday morning.
The new three-year buyback programme follows the completion of a share buyback programme of the same GBP1.5 billion total size that was announced back in July 2022.
By Lydia Doye, Alliance News reporter
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