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Highlights:
Grafton Group repurchases 35,000 shares as part of a £30 million share buyback program.
The repurchase is part of an ongoing strategy to return capital to shareholders.
Grafton has already repurchased over 1.6 million shares since the program began in August 2024.
Grafton Group (LSE:GFTU), a leading distributor of building materials, has announced the repurchase of an additional 35,000 ordinary shares on the London Stock Exchange. This transaction is part of the company's £30 million share buyback program, which was initiated in August 2024. The shares were repurchased at an average price of £10.1875, reflecting Grafton's continued commitment to enhancing shareholder value.
Since the start of the buyback program, Grafton has already repurchased over 1.6 million shares, reinforcing its strong financial position and focus on capital efficiency. The move is part of the company’s ongoing strategy to return excess capital to shareholders while maintaining a healthy balance sheet.
The share repurchase program signals confidence in the company’s operational performance and future prospects. Grafton’s financial stability, coupled with its commitment to capital returns, demonstrates its proactive approach in managing its resources and supporting shareholder interests.
The share buybacks come as Grafton Group continues to navigate a dynamic market environment, focused on sustaining growth in its core operations. The company’s decision to allocate capital toward repurchasing shares is expected to further enhance earnings per share, reduce outstanding share counts, and ultimately provide additional value for shareholders.
The ongoing buyback program is a clear indication of Grafton’s financial health and its prioritization of capital returns to investors. With more than 1.6 million shares repurchased to date, the program reflects a continued effort to optimize shareholder value and align with long-term growth objectives. Grafton remains committed to executing this initiative while preserving a strong balance sheet to support future strategic opportunities.
