QinetiQ Announces New £200m Share Buyback Programme
Why we think this is neutral
The RNS announcement details a new £200 million share buyback programme by QinetiQ, which is a routine corporate action and does not contain any significant operational or financial updates. While share buybacks can be viewed positively as a way to return capital to shareholders, the announcement itself does not provide enough information to determine the overall impact on the company's performance or prospects.
Key Points
- Completion of £50 million tranche of existing buyback programme
- New £200 million buyback programme announced, to be executed over next two years
- Shares purchased will be cancelled, reducing shares in issue
- Existing shareholder authority to repurchase up to 30.9 million shares
Summary
QinetiQ Group plc has announced the completion of a £50 million tranche of its existing share buyback programme, and the commencement of a new £200 million buyback programme over the next two years. The buybacks will be executed independently by Deutsche Numis and any shares purchased will be cancelled, reducing the number of shares in issue. The company has existing shareholder authority to repurchase up to 30.9 million shares.