FleetPartners announces $20m on-market share buy-back
Key points
- Board approves up to $20m on-market share buy-back
- Buy-back reflects confidence in balance sheet strength and future cash generation
- In addition to 60-70% dividend payout ratio announced at FY25 results
Full summary
FleetPartners Group Limited ('FPR', the 'Company') has announced that its Board has approved an on-market share buy-back of up to $20 million. The buy-back reflects the Board's confidence in the company's balance sheet strength and future cash generation. This buy-back is in addition to the Company's stated dividend payout ratio of 60 - 70%, as announced at the FY25 results. The buy-back will be conducted in accordance with the Corporations Act and ASX Listing Rules and may commence no earlier than 14 days from the date of this announcement. The buy-back is a strategic move by the Company to enhance shareholder value by returning surplus capital to shareholders, while maintaining a prudent capital structure and ongoing dividend policy.
Summary generated by a large language model. Please interpret with care.