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Hays PLC - London-based provider of recruitment and human resources services - Announces a £75 million share buyback programme, starting on Friday and planned to be completed within 12 months. Hays says the buyback, to be run by UBS AG, is part of its policy to return surplus cash to shareholders above a buffer at each year-end of £100 million.
Hays notes however that it aims for core and special dividends to always be above share buyback amounts. With its half-year results ended December 31, Hays declared a 0.95 pence per share interim dividend, having not paid one a year before, and said it expects to announce a ‘substantial’ special dividend for financial 2022 with its full-year results.
Current stock price: 122.00p, up 4.0% on Thursday
12-month change: down 26%
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