12th Sep 2024 09:21
Vistry Group PLC - Kent, England-based housebuilder - Commences GBP130 million share buyback programme announced earlier this month. This comprises an interim ordinary distribution of GBP55 million and a special distribution of GBP75 million. Vistry expects to complete the buyback no later than May 14, the date of its annual general meeting. Ordinary buyback is in line with capital allocation policy of pursuing a two times adjusted earnings ordinary distribution cover respecting a full financial year. The special buyback reflects the progress made to date in Vistry's strategy, "and further progress expected in the remainder of the year to generate surplus capital to be returned to shareholders".
Current stock price: 1,383.76 pence, up 3.0% on Thursday in London
12-month change: up 53%
By Emma Curzon, Alliance News reporter
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