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Experian eyes ‘increased’ repurchases as sets $1 billion buyback

ALN

Experian PLC on Friday announced a $1 billion share buyback programme, and the consumer credit checking business said it continues to ‘trade strongly’.

Shares in the company were up 2.2% to 2,754.00 pence each in London on Friday morning.

Dublin-based Experian said the share buyback will end no later than June 30 of next year. JPMorgan will run the first tranche, which kicks off immediately.

‘We continue to trade strongly underpinned by our strategic execution and we expect to end this financial year in a favourable leverage position. This enables us to continue to invest in the business while also returning excess capital to shareholders. Given this flexibility, we see opportunity to drive additional shareholder value through the introduction of increased share repurchases. Our medium-term financial framework, capital allocation framework and dividend policy are all unchanged,’ Experian said.

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