Greencoat UK Wind rises after announcing share buyback

Greencoat UK Wind

26/10/2023 09:19

** British wind farm focused fund Greencoat UK Wind PLC
 UKWG.L  up 2.5% to 133.7p
    ** Co says it will increase its annual dividend target to
10p and will launch a share buyback programme of up to 100 mln
pounds
    ** Increase of 14.2% over the 2023 target dividend of 8.76p
for annual dividend, co says
    ** Share buyback programme will commence shortly, end by no
later than 25 Oct 2024, co adds
    ** Co says, sole purpose of the programme is to reduce the
issued share capital of co and therefore the repurchased shares
will either be held in treasury or cancelled
    ** UKWG down 14.3% YTD, as of last close


 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))