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  2. Share Prices
  3. Diversified Energy Share Price
  4. Diversified Energy Share News
  5. Diversified Energy hopes for "accretive" future as buyback continues

Pin to quick picksDiversified Energy Share News (DEC)

Diversified Energy Information

Share Price Information for Diversified Energy (DEC)

London Stock Exchange
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Share Price: 1,125.00
Bid: 1,123.00
Ask: 1,125.00
Change: 1.00 (0.09%)
Spread: 2.00 (0.178%)
Open: 1,084.00
High: 1,142.00
Low: 1,084.00
Prev. Close: 1,124.00
DEC Live PriceLast checked at -

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Diversified Energy hopes for "accretive" future as buyback continues

Fri, 05th Apr 2024 10:12

(Alliance News) - Diversified Energy Co PLC on Friday reported on the progress of its ongoing share buyback programme.

The Alabama, US-based oil and gas production company has so far repurchased 989,262 shares of 20 pence each since launching its buyback programme on June 27.

In accordance with approval given at last year's annual general meeting, the company is entitled to repurchase up to 4.9 million shares for a maximum total of GBP97.4 million.

Diversified Energy said it hopes the programme will allow it to benefit from capital allocation opportunities, and will enable accretive acquisitions in the future.

It said it is "of the view that the shares are trading at a substantial discount to net asset value and [the buyback] is an appropriate use of the company's cash resources".

Diversified Energy shares were down 2.1% at 967.00 in London on Friday morning.

By Elijah Dale, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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28 Jun 2023 08:55

Diversified Energy sells off USD40 million of non-core assets

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27 Jun 2023 08:54

Diversified Energy purchases shares worth GBP97 million in buyback

(Alliance News) - Diversified Energy Co PLC on Tuesday established the parameters of its share buyback programme, stating that it will repurchase up to GBP97.4 million worth of shares.

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27 Jun 2023 07:56

LONDON BRIEFING: Stocks called up; record profit for Telecom Plus

(Alliance News) - Stock prices in London were set to open higher on Tuesday, following a positive session for equities in Hong Kong and Shanghai.

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