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Flutter Entertainment PLC ( (FLUT) ) has shared an update.
Flutter Entertainment has continued executing its previously announced share buyback programme, redeeming and cancelling 135,025 ordinary shares in the United States on 25 March at a volume-weighted average price of $105.36. The purchases, executed through Goldman Sachs across multiple U.S. trading venues, form part of a $250 million buyback over a 10-week period and contribute to the group’s broader plan to repurchase up to $5 billion of shares.
Following settlement and cancellation of these latest redemptions, Flutter’s share count will fall to 174,783,856 ordinary shares in issue, modestly enhancing earnings and ownership for remaining shareholders. The ongoing buyback underlines management’s capital-return strategy and confidence in the company’s valuation, while also aligning with regulatory disclosure requirements in the U.K. and the markets where the shares were repurchased.
More about Flutter Entertainment PLC
Flutter Entertainment plc is a global sports betting and online gaming group. The company operates a portfolio of betting and gaming brands, offering sportsbook, casino and related interactive entertainment products to customers in key regulated markets, including the United States, the United Kingdom and Ireland.
For an in-depth examination of FLUT stock, go to TipRanks’ Overview page.