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Kingfisher to return further 20m to shareholders

Kingfisher house

Kingfisher PLC has confirmed that it will return a further £20m to investors, via a new share buyback program, as part of a £600m capital return programme originally announced in January 2016.

Owner of the B&Q and Screwfix chains - said Deutsche Bank AG, London branch, will buy back shares on its behalf during the period between 2nd January to 31st January 2018. The purpose of the repurchase programme is to reduce share capital, the company added and the maximum number of shares to be purchased will be 223.1 million shares.

To date, Kingfisher has returned £440m out of the £600m capital return programme.

Source: Insight DIY Team

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29 December 2017

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