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Vertu Motors ( (GB:VTU) ) has provided an announcement.
Vertu Motors has announced a new £12 million share buyback program, reflecting its strategy to increase capital allocation in buybacks alongside dividend payments. This move is aimed at enhancing shareholder returns and will involve repurchasing shares up to the maximum amount on the London Stock Exchange, ultimately reducing the company’s share capital. The buyback may impact daily trading volumes and is intended to operate within regulatory parameters, with further announcements expected upon completion of repurchases.
More about Vertu Motors
Vertu Motors is the fourth largest automotive retailer in the UK, operating 198 sales outlets under the Bristol Street Motors and Vertu brand names. Established in 2006, the company aims to consolidate the UK motor retail sector through acquisitions and organic growth strategies to enhance operational efficiencies across its national dealership network.
YTD Price Performance: -3.55%
Average Trading Volume: 486,638
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £184.4M
See more data about VTU stock on TipRanks’ Stock Analysis page.
