Mitie Launches New £125m Share Buyback Programme
Why we think this is neutral
The RNS announcement is a general update on Mitie's launch of a new £125m share buyback programme. While this is positive news for shareholders, it does not contain any of the mandatory news types that would warrant a stronger sentiment score.
Key Points
- Mitie to launch new £125m share buyback programme in FY26
- Buyback programme will bring the cumulative total undertaken since FY23 to £325m
- Around 6m shares will be held in treasury to satisfy the 2022 Save As You Earn (SAYE) scheme
Summary
The facilities management company announces a new £125m share buyback programme for the next financial year.
Mitie Group plc has announced its intention to launch a new £125m share buyback programme in respect of its ordinary shares in FY26, commencing from the date of this announcement. The Board's capital deployment policy prioritises strategic M&A, a progressive dividend policy, and the purchase of shares to fulfil employee incentive schemes. Surplus funds will be returned to shareholders via this new share buyback programme.
GENERAL UPDATE