Payment for the shares is to be made in cash and this programme will be carried out as long as the targeted long-term credit rating of A-/BBB+ is maintained and unless there are strong strategic reasons to refrain from further buy-backs
, the company added.
Between 2008 and 2017, 466 of the S&P 500 companies spent around $4 trillion on stock buy-backs
, equal to 53 per cent of profits.
'Following completion of the buy-backs
, the directors intend that the company will retain as treasury shares, which will be available for re-issue, 4,440,969 ordinary shares and 389,444 'B' ordinary shares,' said the company's statement.'
Chairman Albert Mucklow said told the meeting yesterday that previous buy-backs
has increased net asset value by 18p a share.
Scrapping the vessel completes the cycle that begins with buy-backs
. While this cycle seems clear, it does not answer the most difficult questions: who pays for decommissioning and what happens to the people who are bought out of their livelihood?
According to court papers, the couple received no notification that the vehicle had been a lemon buy-back
. "Had we known it had been repurchased for faults, we would never have purchased the vehicle," Sodari-Smith told the California Division of Motor Vehicles during a hearing on Chrysler lemon-laundering charges in 1995.
Some innovative brokers have devised several different types of buy-back
Provider of telecommunication services Telia Company AB (STO:TELIA) reported on Friday the decision by its board of directors to exercise the mandate for the buy-back
of shares that was approved by the Annual General Meeting on 10 April 2018.
Some members of the CFA Institute take a different view: "favourable regulatory and tax treatment of buy-backs
is misguided and should be reformed".
According to Sami Faltas, a consultant to UN civilian disarmament efforts, gun "buy-backs
" and turn-ins employ a "subtle mix of rewards and penalties" to induce targeted populations to surrender their firearms.
are potentially the most stabilising factor in the market if managed sensibly, " says George Alexander, Glass's chief commercial vehicles editor.
In the past year it has spent pounds 100 million on share buy-backs
. This followed an abrupt change in strategy by chairman Mr Greg Hutchings who had previously resisted pressure from City institutions.
All payment for the shares will be made in cash and its programme will be carried out as long as the financial leverage target of two times, plus or minus 0.5 times, is not in any material way breached or there are strong strategic reasons to refrain from further buy-backs