16th Dec 2015 08:24
LONDON (Alliance News) - Foxtons Group PLC on Wednesday said it will begin a share buyback to return excess cash to shareholders.
The London estate agency said the move is "in line with the company's policy of returning excess cash to shareholders".
"The proposed share buy back will be funded from accumulated cash resources and will have no impact on any future ordinary and special dividend payments," Foxtons said.
Credit Suisse and Numis, the company's brokers, will handle the buyback, which will begin from Wednesday.
Shares in Foxtons were down 0.1% at 179.00 pence on Wednesday morning.
By Samuel Agini; [email protected]; @samuelagini
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