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NEUTRAL

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