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Centrica PLC (LSE:CNA), the Windsor-based energy provider, has launched a new £200 million share buyback initiative, set to commence on Thursday and conclude by the end of February. This move follows the company's recent half-year results announcement.
Details of the Buyback
The buyback program is being managed by Goldman Sachs International and marks an extension of Centrica’s ongoing share repurchase efforts. Since November 2022, Centrica has repurchased approximately £1 billion worth of shares, representing nearly 14% of its issued shares at that time.
Dividend Increase
In conjunction with the announcement of the buyback program, Centrica reported an increase in its interim dividend. The dividend has been raised by 13% to 1.50 pence per share compared to the previous year. This reflects the company's commitment to returning value to its shareholders amidst ongoing financial strategies.
Centrica PLC operates as a comprehensive energy provider across multiple regions, including the United Kingdom, Ireland, Scandinavia, North America, and other international markets.
