British Gas owner Centrica begins additional £300mln buyback
Portfolio Pulse from
Centrica PLC, owner of British Gas, has announced an additional £300 million share buyback, bringing total repurchases to £1.5 billion since November 2022. The buyback is expected to be completed by September 2025, repurchasing approximately 4.6% of its issued shares.
December 27, 2024 | 9:00 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Centrica PLC has announced an additional £300 million share buyback, increasing total repurchases to £1.5 billion since November 2022. This move is expected to repurchase approximately 4.6% of its issued shares by September 2025.
The additional £300 million buyback indicates Centrica's confidence in its financial health and commitment to returning value to shareholders. This is likely to positively impact the stock price in the short term as buybacks reduce the number of shares outstanding, potentially increasing earnings per share.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100