Company continues to return capital to shareholders instead of investing all of it into new acquisitions.
CentralNic (London AIM: CNIC) announced another share buyback today.
The buyback is the second buyback the company has initiated, with its first buyback of equal size occurring at the end of last year.
CentralNic is giving itself until August 14 to complete the buyback. But if the last buyback is any indication, it will be completed much sooner than that.
For reference, CentralNic’s current market cap is about £327 million.
The buyback is part of the company’s decision to return more cash to investors rather than continue to invest it into acquisitions. The company will pay its first-ever dividend of £0.01 in June.
i dont want to pick on this company, Andrew. I have no qualms with CentralNic, who seem to he growing, robustly.
I just hate stock buybacks, i miss the days when they were illegal in the United States.
Impeccable reporting, as always!