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(Correcting headline of story.) Virgin Money UK PLC on Tuesday said it has cancelled the remainder of its buyback programme with immediate effect. The cancellation of the programme comes after Virgin Money agreed to the terms of a cash acquisition by Nationwide Building Society. The company has so far returned £63 million to shareholders under the programme. The remaining £87 million had been fully deducted from its CET1 resources in the first quarter. It now expects a CET1 ratio benefit in the second quarter. Virgin Money shares were up 1.5% to 217.00 pence each in London on Tuesday afternoon. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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