AMP buy-back averages $1.52 per share
AMP Limited chief executive, Blair Vernon has sent a reassuring message to shareholders in the wake of the company yesterday completing its $150 million on-market share buy-back.
The buy-back, announced by the company on 27 March and commenced on 17 April, saw AMP buy back approximately 99 million ordinary shares at an average price of approximately $1.52 per share.
Commenting on completion of the buy-back, Vernon said it reflected AMP’s disciplined approach to capital management while maintaining a strong and resilient balance sheet.
“As we focus on driving momentum in our wealth businesses and delivering strong cash generation, we remain committed to returning surplus capital to shareholders,” he said.
AMP’s announcement to the Australian Securities Exchange (ASX) said its strategy continues to be focused on returning surplus capital to shareholders by way of dividend and buyback.
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