7th Dec 2018 09:09
LONDON (Alliance News) - RELX PLC said Friday it will return a further GBP100 million in the first two months of 2019 via a new share buy back programme.
Shares in the scientific, technical and medical analytics business were up 2.5% at 1,625.50 pence each.
RELX confirmed Friday it completed its GBP700 million share buyback programme for 2018, while adding it now intends to commence a new programme to repurchase up to GBP100 million worth of new ordinary shares between January 2 and February 18.
The company is scheduled to release its 2018 results on February 21.
The purpose of the new share repurchase programme is to reduce the capital, the company said, adding that the repurchased shares will be held in treasury.
The data and analytics company also said that on Thursday it cancelled 45 million of its ordinary shares held in treasury. Following the cancellation, the company holds a total of 42.0 million ordinary shares in treasury, and has 1.97 billion ordinary shares in issue.
In October, RELX reiterated its full-year outlook after posting 4% year-on-year growth in underlying revenue for the first nine months of 2018.
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