Bulmers owner C&C to launch €15m share buyback

21st Feb 2024 07:58

(Sharecast News) - Bulmers and Magners owner C&C Group said on Wednesday that it will launch a buyback programme of up to €15m on 1 March.

The programme forms part of its plan to return up to €150m to shareholders over the next three fiscal years - as announced last October - through a combination of dividends and share buybacks. It follows the reinstatement of dividend payments last year.

"The programme is underpinned by the board's confidence in the medium-term outlook for the business and its strong cash generation capabilities," it said.

"The board also believes that the programme represents the most effective use of capital in the current environment."

The programme will end no later than 30 June 2024, subject to market conditions.