Bellway Plc (BWY.L)Tuesday said that its Board has approved a 150 million pounds share buyback programme for its shareholders. The buyback will be conducted over the next twelve months, with plans to continue returning excess capital in the coming years, the company added.
The British residential property developer said that the programme began on Tuesday with an initial tranche of 75 million pounds and will run no late than April 30, 2026. The company added that for the first tranche, it has appointed Citigroup Global Markets Ltd to conduct the buyback on its behalf.
Bellway said that the details of the second tranche will be announced soon and the entire buyback programme is expected to be completed by October 31, 2026.
According to the company, the programme was launched with the intention to return surplus capital to shareholders and reduce its share capital. The share purchases will be made on the open market, depending on market conditions and trading volumes, under the authority granted by shareholders at the 2024 AGM, which allows the repurchase of up to 11.9 million shares, Bellway noted.
On the LSE, the stock ended Monday's trading at 2,478.00 pence, up 2.1 percent.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.