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IN BRIEF: Grafton starts £25 million four-month share buyback

ALN

Grafton Group PLC - Dublin-based building materials distributor - Launches share buyback worth up to £25.0 million on Tuesday. The programme will be run by Goodbody Stockbrokers UC and Numis Securities Ltd and will be completed by October 31. All the repurchased shares will be cancelled. At a capital markets event that Grafton held earlier this month, the company set out plans for dividends that are 2.0x to 3.0x covered by earnings, supplemented by ‘incremental capital returns when appropriate’.

Current stock price: 903.20 pence

12-month change: down 12%

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