Rotork plc (ROR.L), a provider of mission-critical intelligent flow control and instrumentation solutions, on Tuesday announced that the second and third tranches of its 50 million pounds share buyback programme will begin on June 3.
The second and third tranches will be carried out through J.P. Morgan Securities untill July 31, with up to 20 million pounds allocated in aggregate.
The first phase was completed on May 30.
The company said the share buyback programme is consistent with its stated capital allocation policy, aiming to return cash to shareholders while retaining a strong balance sheet.
On Monday, Rotork closed trading 1.14% lesser at GBP 311 on London Stock Exchange.
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