16th Oct 2024 13:54
Moonpig Group PLC - London-based online greeting card and gifting company - Announces a share buyback programme of up to GBP25 million, expected to start in early November. The firm aims to pay a total financial 2025 dividend of GBP10 million, with the first dividend under its new policy to be paid around March. The company's financial year ends on April 30. The new policy commits to maintaining "robust dividend cover" of 3x to 4x in the medium term. Looking ahead, its medium term targets remain unchanged, as it still aims for double digit percentage annual revenue growth. Moonpig says: "We will always prioritise growth investment in the business, however our consistent strong operating cash generation and the progress being made with deleveraging means that we have the financial flexibility to consistently return incremental excess capital to shareholders by way of dividends and share buybacks."
Current stock price: 247.50 pence each, up 8.3% on Wednesday afternoon in London
12-month change: up 57%
By Tom Budszus, Alliance News slot editor
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