Launch of €15 Million Share Buyback Programme21 Feb 2024 07:33
C&C Group plc
Launch of €15 Million Share Buyback Programme
Dublin, London 21 February 2024: C&C Group plc ('C&C' or the 'Group'), owners of the Tennent's, Magners and Bulmers Ireland brands, and Matthew Clark and Bibendum Wine, announces that it will commence a share buyback programme on 1 March 2024 to repurchase ordinary shares of the Group (the "Shares") up to a maximum aggregate consideration of €15 million (the "Programme").
The Programme forms part of the Group's plan to return up to €150 million to shareholders over the next three fiscal years as announced in October 2023 through a combination of dividends and share buybacks and follows the reinstatement of dividend payments last year. The Programme is underpinned by the Board's confidence in the medium-term outlook for the business and its strong cash generation capabilities. The Board also believes that the Programme represents the most effective use of capital in the current environment.