HICL Infrastructure PLC (HICL.L) reported that, on an investment basis, its profit before tax for the year ended 31 March 2024 dropped to 30.6 million pounds from 198.5 million pounds last year.
On an investment basis, annual income declined to 105.4 million pounds from 254.2 million pounds in the previous year. Earnings per share for the year were 1.5 pence down from 9.9 pence in the prior year.
The company reconfirmed the dividend guidance of 8.25 pence per share for the year to 31 March 2025, and issued new dividend guidance of 8.35 pence per share for the year to 31 March 2026.
In a separate press release, HICL Infrastructure said Wednesday that its share buyback program will commence today and end no later than 28 February 2025.
According to the company, the share buyback program will initially be executed under the authority granted by shareholders at the annual general meeting on 19 July 2023 to acquire up to about 304.52 million shares, equating to about 14.99% of the issued share capital at the time.
In addition, the company intends to propose a resolution to refresh the share buyback authority at its 2024 annual general meeting scheduled for 17 July 2024.
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