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Flutter Entertainment PLC ( (FLUT) ) just unveiled an announcement.
Flutter Entertainment has continued executing its share buyback programme, redeeming and cancelling 200 ordinary shares in U.S. trading on March 31 at a volume-weighted average price of $100, across venues including BATS, NASD and NQBX. The purchases, conducted via Goldman Sachs, are part of a previously announced plan to repurchase up to $250 million of stock over 10 weeks and up to $5 billion overall, reducing the share count to 174,400,428 and signalling ongoing capital returns to investors.
The latest tranche of repurchases underscores Flutter’s commitment to returning surplus capital while potentially enhancing earnings per share and supporting the share price. By shrinking its equity base through cancellations and detailing the trades in line with UK market abuse and listing rules, the group reinforces its regulatory compliance and capital management strategy, which could influence investor perception of its financial discipline and long-term value creation.
More about Flutter Entertainment PLC
Flutter Entertainment plc is a global sports betting and online gaming operator. The company runs a portfolio of brands offering wagering, casino and related digital gambling services, with a significant presence in the U.S. and other regulated markets. Its shares are listed in both the U.S. and UK markets, and it actively manages its capital structure through buybacks.
Learn more about FLUT stock on TipRanks’ Stock Analysis page.