The parent company of Woodie's and Chadwicks, Grafton Group, has announced its intention to introduce a third share buyback programme worth up to £50m.
The DIY and building materials company has returned £193m to its shareholders under the completion of two other buyback programmes held between May 2022 and April of this year.
Grafton said the buyback will start today and end no later than 31 August 2023 subject to market conditions.
Under the terms of the programme, the shares will be repurchased on the London Stock Exchange and cancelled.
Earlier this month, Grafton said its overall performance in the first quarter of its financial year was in line with expectations with group revenue in the period to April 23 rising by 2.8% to reach £704.3m from £685.4m the same time last year.
