29th Jan 2015 07:40
LONDON (Alliance News) - National Grid PLC Thursday said it has started a share buyback programme as part of its management of the dilution that resulted from the take-up of its scrip dividend.
The grid operator didn't say how many shares it will buy back, but said the programme will run between January 29 and March 4 at the latest.
"The buy-back programme will be managed by an independent third party, which makes its trading decisions independently of, and uninfluenced by, the company and is capable of continuing during close periods," it said in a statement. "The purpose of the share purchases is to reduce the company's issued share capital."
By Steve McGrath; [email protected]; @stevemcgrath1
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